Online Reporter
Sikhulekelani Moyo
Zimpapers Business Hub
ZIMBABWE’S pension sector membership grew 14 percent in the first quarter of 2026, following the reinstatement of over 146 000 dormant members of the Construction Industries Pension Fund, according to the Insurance and Pensions Commission (IPEC).
Total membership rose to 1 142 173 from 998 072 for the quarter to December 31, 2025.
In its pension report for the three months ended March 31, 2026, IPEC said the increase came as sector income rose 74 percent year-on-year to US$313,49 million, but it warned funds against poor data management.
“This growth mainly resulted from the reinstatement of 146 861 previously dormant, unclaimed members of the Construction Industries Pension Fund following data cleanup resulting from corrective action,” said IPEC.
The regulator is now pushing for better record-keeping, saying that the pension funds should ensure that they maintain accurate data on their members.
“Gaps noted will result in regulatory sanctions,” it said.
IPEC also said the number of registered occupational pension funds increased from 971 to 975 during the review period.
Of the total, 477 funds, or 49 percent, were active, while 498 were inactive and paid up, with the majority earmarked for dissolution.
By benefit structure, the sector comprised 938 defined contribution funds, 34 defined benefit funds, and three hybrid schemes.
On administration, 961 funds had outsourced services as of March 31, 2026. Of these, 802 were insured funds and 159 were self-managed.
There were 14 registered fund administrators, comprising five independent administrators and nine life assurance companies offering fund administration.
IPEC registered four new pension funds in Q1 2026: the Zimnat Life Umbrella Fund, Doves Micro Provident Fund, Zimbabwe Platinum Mines Private Limited Pension Fund and Rainbow Insurance Brokers Pension Fund.
