Zimbabwe. IPEC reforms progressive
The Insurance and Pensions Commission (IPEC) says it has made “significant progress” on institutional and regulatory reforms in keeping with recommendations of the Justice Smith-led Commission of Inquiry.
The Commission of Inquiry focused on the conversion of insurance and pensions values from Zimbabwe dollar to the United States dollar, but it also included other reform proposals. Although progress had been recorded on other aspects of the pensions reform agenda, IPEC pensions director Josphat Kakwere said development of the proposed compensation framework had slowed due to some “complications”.
The proposed compensation framework is for policy holders whose claims were eroded during the conversion of values from Zimbabwe dollar to the US dollar circa 2009.
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