Inaugural Retirement Planning Conference starts in Harare

PRESIDENT Mnangagwa is today expected to officiate at the three day innagural retirement planning conference in Harare a few days after Government gazetted the State Service Pension Fund Bill.

The bill seek to establishe a fund to ensure members enjoy a decent standard of living in their retirement through provision of pensions, gratuities and other benefits.

In a notice by the Public Service Commission, the conference will focus on Financial Planning, Estate Planning, Life Skill Capacitation, Property Ownership, and Personal Health Management.

These areas ensure that today’s employees and tomorrow’s retirees can maintain their financial independence and comfort, while contributing to an upper-middle-income economy which includes the retired populace.

“The Government through the Public Service Commission will from Wednesday, 11 to Friday, 13 December 2024 host the Inaugural Retirement Planning Conference at Rainbow Towers, Harare, where retirees, active members of the Public Service, and retirement experts from different sectors will be discussing opportunities to secure the dignity, financial independence and health of the Civil Servant in retirement.

“HE President Dr Emmerson Dambudzo Mnangagwa is expected to Officially Open the conference on Wednesday 11 December 2024.”

Minister of Public Service Labour and Social Welfare July Moyo, Public Service Commission Principals; the Chairman, Dr Vincent Hungwe and other top government officials are expected to attend.

In the run up to the conference, the public service ommission said the initiative aligns with the National Development Strategy 1 (NDS1) priorities, focusing on economic growth, health and wellbeing, housing delivery, social protection, and devolution.

Expected outcomes include raising awareness on retirement planning in the Public Service, enhanced knowledge and capacity for quality retirement programming and strengthened stakeholder commitment on ensuring dignified retirement in the Public Service.

Another outcome is to have a clear articulation of collective initiatives for better retirement products.

Stakeholders from Government Ministries, parastatals, independent commissions, financial planners, insurers, estate planners, and health Insurers are expected to share perspectives and expertise.

In his October State of the Nation address, President Mnangagwa announced the government’s intention to establish a State Service Pension Fund and urged Parliament to swiftly pass the State Service Pensions Bill.

This fund aims to provide eligible retirees with a reliable monthly income after their public service.

Currently, civil servants receive pension payments solely from the National Social Security Authority (NSSA), which offers less than US$100 per month.