Zimbabwe. Pensions funds owed $3,38bn in unpaid contributions
ZIMBABWE’s pensions and insurance organisations are owed over $3,38 billion in contributions deducted from employee salaries by companies.
Insurance and Pensions Commission (Ipec) commissioner-general Grace Muradzikwa raised concern over companies deducting pension contributions from employees, but not remitting the funds.
Muradzikwa made the remarks in a speech read on her behalf by director (pensions) Cuthbert Munjoma during a handover ceremony of the solar-powered borehole and groceries to Chengetai Old People’s Home in Chinhoyi on Wednesday.
“As a commission, we are sensitive to the plight of the most underprivileged, particularly, the aged, which is why after learning of your situation, we decided to intervene without hesitation,” Muradzikwa said.
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