Zimbabwe Pension and Insurance Tights Trust (ZImPirt) differs on IPEC’s as it also pokes registered entities
By Insurance24
HARARE, The Zimbabwe Pension and Insurance Rights Trust (ZImPirt) says the recent warning for the public not to engage organizations purporting to be insurance or pension’s experts indirectly takes away the public’s freedom to associate, which is unconstitutional.
Insurance and Pensions Commission (Ipec) recently warned the public against engaging individuals and organizations purporting to be insurance or pensions experts as most of these people are not qualified and registered as financial advisers.
This comes as insurance fraud is on the rise but ZIMPIRT argues that government should really act on the same people who are said to be registered and qualified as they have been on the front of prejudicing policy holders.
“The advice assumes that those engaging in the said individuals and organizations are incapable of evaluating the quality of advice provided by the individual organizations compared to what by mandated sources and the so called qualified registered and duly recognized institutions.
In some cases pensioners and insurance policy holders were prejudiced by the same people said to be qualified registered and duly recognized institutions.
Pensioners organizations ZImPirt in particular have for years been pointing this out leading to the set of commissioner of inquiry on conversion to US$ of benefits die from pension funds and insurance contracts in 2015.,” said ZImPirt in a statement.
ZimPirt added that it is reasonable to conclude that such public statements are a reaction to pressure from pensioner organizations.
“While with its flaws the report on the commoner of inquiry confirms this pensioner prejudice notwithstanding. Pensioners and policy holders continue to be prejudiced with no one doing anything about it in the circumstances the advice may be hypocritical.” added ZImPirt
ZImPirt also said It has always been its submission that submission that the president and government drastically reviews and restructures the highest offices in charge of pension and insurance policy holders and secondly to be appropriately skilled competent and professional.
“The public is once again advised to be discreet with this advice and to continue seeking from progressive organizations and competent individuals who have to date organized pensioners and insurance policy holders to have their voices heard.
Such advise should serve to alert the president and government destitution as instigated by failure on the part of those in office and persuade the president and government to urgently correct this situation,” added ZImPirt.
