Unclaimed pension benefits rise over 160 percent – Ipec

Oliver Kazunga, Acting Business Editor

THE number of unclaimed pension benefits increased by 168 percent to 154 957 as at September 30, 2020 largely blamed on low benefits being paid out by the country’s pension funds.

In a report for the third quarter ended September 30, 2020, the Insurance and Pensions Commission (Ipec), indicated that in the comparable period in 2019, unclaimed benefits stood at 57 815.

“Noting that very low benefits have also been a contributing factor to the unclaimed benefits, the commission is insisting on allocation of revaluation gains on the unclaimed benefits in line with requirements of the guidance paper on currency reforms,” said Zimbabwe’s insurance and pensions regulator. – @okazunga