Editorial Comment: Firms, prioritise employee pensions

challenges during the Zimbabwe dollar era, when rising inflation saw even the employed fail to make ends meet.
It is against this background that expectations were quite high with the introduction of the multi-currency system in 2009 that the value of pensions would be restored due to the use of stable currencies.
However, reports that more than 50 firms in the construction industry owe the National Social Security Authority at least US$2 million in unpaid pension contributions and other benefits since 2009 make sad reading indeed.
Companies in Zimbabwe are required by law to remit pension contributions to NSSA.
While it is a known fact that the Zimbabwean economy is not out of the woods yet, the indication on employees’ payslips that part of their earnings were going towards their pension give them a hope for tomorrow, or for that rainy day.
However, it is quite unfortunate that many employees only discover late that what they thought they were storing up for their rainy day was in fact just figures on a piece of paper as their pension contributions did not make it to the intended fund.  
We are quite certain that many former employees are wallowing in poverty after their retirement due to non-remittance of their pensions and such practice should be nipped in the bud so that firms are not allowed to defeat the very purpose the social security fund was set up for.
We learn that individual companies owe NSSA between US$2 000 and US$192 000, and this is money that is supposed to be available to the workers who contributed towards the pension scheme.
We believe that the 51 companies in the construction sector could just be an indicator of a serious problem across all sectors as regards the pensions and other statutory obligations. 
It is quite crucial that human resources are given due recognition since it is the workers that generate the wealth that companies declare as profits hence the need to reward that with good salaries coupled with post-employment cushioning in the form of reasonable pensions.
Zimbabwe Construction and Allied Workers Union president Mr Nicholas Mazarura put it aptly when he accused the firms of criminal behaviour.
“It is the noble duty of the employers and employees to ensure that contributions are paid to NSSA, but they are taking these funds and pocketing them. This is a criminal act and necessary action should be taken,” said Mr Mazarura.
Payment of pensions should be considered a priority by employers, even during tough times so that employees are not unnecessarily inconvenienced.
NSSA, on its part, should ensure that it discharges its mandate through enforcement of relevant laws and collecting pensions to ensure our workers are well taken care of beyond their productive years. 
We urge the Employers Confederation of Zimbabwe to encourage its members to make pension payments and other statutory obligations and appeal to the companies to always put the welfare of their employees first for their businesses to be a success.