Pension Funds begin implementing long-awaited compensation programmes

Pension funds have finally begun implementing long-awaited compensation programmes for pensioners and policyholders who lost their life savings when Zimbabwe dollarised in 2009,Business Timescan report.

It is estimated that Zimbabweans lost investments worth overUS$3 bnduring the chaotic currency conversion process that wiped out pensions, insurance policies, and long-term savings.

In a written response toBusiness Times, theInsurance and Pensions Commission (IPEC)actuarial directorRobson Mtangaduraconfirmed that the compensation process is now underway in line withStatutory Instrument 162 of 2023, with visible progress across several pension funds.

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