Zimbabwe. Unclaimed pension funds reach $27m
About 50 000 pensioners have not received their pension payouts with unclaimed pension funds now amounting to more than ZWL$27 million, the industry regulator has said.
Speaking during a meeting with funds trustees in Chinhoyi yesterday, Insurance and Pension Commission (Ipec) spokesperson, Lloyd Gumbo, said the regulator was worried about the substantial amount that is lying idle while the owners are probably wallowing in abject poverty.
“The commission is concerned with the number of pensioners who do not know that they have money in pension funds, while they are probably suffering,” he said.
Gumbo appealed to all those who contributed pensions in their lifetime to approach pension funds or their former employers. He said the money will remain with the pension fund for five years and then transferred to the Guadian Fund where it will be kept for 30 years.
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