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Conrad Mupesa Mashonaland West Bureau
A CUMULATIVE of $2,55 billion contributed by Zimbabwean workers towards pensions remains uncollected with the Insurance and Pensions Commissions believing many of the beneficiaries are senior citizens housed at old people homes or are wallowing in poverty.
At the same time employers deducting pension contributions are now hanging onto Z$3,38 billion that should have been forwarded to the funds.
Speaking Wednesday during the handover of a solar powered borehole and Christmas hampers at Chengetanai Old People’s Home in Chinhoyi, the commissioner pensions, Cuthbert Munjoma, said many pensioners who contributed towards retirement savings were not collecting their monthly pay-outs.
“There are pension scheme members who worked hard and contributed towards their retirement savings but they have not claimed their pension benefits,” he said.
“As at 30 September 2021, there were over 160 000 members who had not claimed their pension benefits to the tune of about ZW$2,55 billion. These members or their beneficiaries could be living in old peoples’ homes such as this one or wallowing in abject poverty, yet their pension benefits are lying idle at the pension funds.”
To push claim collections, IPEC has embarked on awareness campaigns about unclaimed benefits.
In addition, a web-based search engine housed on its website and an SMS-based search engine have been designed, where names of people with unclaimed benefits have been uploaded.
He warned companies deducting pension contributions from their employees, but failing to forward these to the pension funds that the Pension and Provident Funds Bill now before Parliament will make chief executive officers and fiancé directors responsible for doing this.
“As a result, some of the fund members then retire into poverty because sometimes there will be no benefits at the pension as the funds would not have received the contributions.
“For instance, as at 30 September 2021, contribution arrears accounted for about ZW$3,38 billion.”
The donation to the Old People’s home, Mr Munjoma said was in line with the organisation’s Corporate Social Responsibility Policy of giving back to the elderly specifically designed to address the basic needs of the elderly.
“As to how we came to Chengetanai Old People’s Home, you may recall that the Parliamentary Portfolio Committee on Labour and Social Welfare visited this home and several others in 2018 to assess the situation at Old People’s Homes.
After the visits, the Committee produced a report, which revealed the plight of the elderly residing in homes, and this touched our souls,” he added.
In her remarks, Minister of State for Provincial Affairs and Devolution for Mashonaland West Mary Mliswa-Chikoka thanked the commission for helping the home.
She said the organisation’s decision to support the home dovetails with the First Lady, Amai Auxilia Mnangagwa efforts of supporting the elderly and underprivileged children.
Amai Mnangagwa has on several occasions donated food and non-food items to the home.
Online Reporter