adminThe funds provide an important cushion for employees and are payable during retirement or death of a breadwinner who was a member of the scheme.
Investigations by The Herald show that the companies have been deducting pension contributions without remitting them to NSSA.
According to a schedule with a list of 51 construction companies in arrears, individual companies owe NSSA between US$2 000 and US$192 000.
Further investigations showed that some of the companies used the funds to buy luxury vehicles and fancy office furniture in gross violation of the Pensions Act.
Zimbabwe Construction and Allied Workers Union president Mr Nicholas Mazarura accused the companies of converting the funds to their own use.
“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,” Mr Mazarura said.
He said the funds belonged to members and were payable to them after retirement. Companies in arrears include — City Roofing Contractors, Creative Systems, China Railway Seventh Group, Dranet Plumbers, Decorama, Homelux Property Development, Kuchi Construction, John Turner Engineering, Jackson Munyeza Pools,
Kenmark Builders, Arosume Property Development, Atlanta Bricks, Amazing Real Estate, A1 Builders, Black Granite, Zimtile Release Power, Hume Pipe Company, Madz Construction, ZAOGA Construction and Twalumba Civil.
Online Reporter