Andrew
Online Reporter
THE Insurance and Pensions Commission (IPEC) will on Friday present the approved Compensation Framework for the insurance and pensions industry, which outlines how pensioners and policyholders whose savings were eroded when the Zimbabwe dollar was demonetised in 2009 after a period of hyperinflation will be paid.
Said IPEC: “The Commission will be presenting the approved Compensation Framework to the insurance and pensions industry on Friday July 22, 2022.”
Last week, Cabinet approved the Compensation Framework for policyholders and pension scheme members following the 2009 loss of insurance and pension values after conversion from the Zimbabwe dollar to the multicurrency regime, according to recommendations by Justice Smith-led Commission of Inquiry.
Policyholders and pension scheme members were resultantly prejudiced.
Online Reporter
Bongani Ndlovu