Law Society/IPEC goes after unregistered legal aid societies
Staff writer
HARARE, The Law Society of Zimbabwe (LSZ) and Insurance and Pensions Commission (IPEC) of Zimbabwe are collaborating with the police in an effort to weed out illegal aid societies amid indications that despite their enormous numbers they are not registered with the regulator.
In a joint statement, LSZ and Ipec said a number of
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26 pension funds dissolve in 2019
Staff Writer
HARARE, Financial challenges prevailing in the country has seen 26 pension funds undergoing dissolution in 2019 with four dissolution’s having already been finalized.
Naturally, the performance of the insurance and pensions industry follows the fortunes of the economy and Zimbabwe has going through plethora of challenges ranging
Ipec working to ensure prescribed assets status is given to value preserving assets
Staff writer
HARARE, The Insurance and Pension Commission (Ipec) says its working with government to ensure prescribed assets status is given to value preserving assets, Insurance 24 can report.
Zimbabwe’s present inflationary environment has increased the risks associated PA investments, particularly in as
Pensions sector assets base increase 80% in March quarter
Staff writer
HARARE, Investment property and equities in the pensions sector continued to reprice faster than all other asset classes in Q1 2020 diluting exposures to these assets, Insurance 24 can report.
The industry closed the quarter with a total asset base of ZW$29,81 billion as at 31 March 2020, an increase of 80,33% in asset values recorded
A FULL COMMENTARY ON THE PENSIONS AND PROVIDENT FUNDS BILL 2019:
Submissions to the Parliament of Zimbabwe
Nobert Musa Phiri
Partner: Muvingi & Mugadza Legal Practitioners (Member of the Alliott Group)
Insurers should prepare for a post-pandemic business environment that will be intensely digital and full of uncertainty
The sudden acceleration in the uptake of digital technologies by consumers and businesses during the COVID-19 pandemic is dramatically transforming how we live, work and engage with each other. Insurers need to ready themselves to meet the challenges and opportunities that lie ahead
Pensioners get part payment in USD
Staff Writer
GOVERNMENT pensioners will effective this month get part of their earnings in United States dollars as a cushioning measure by government against inflationary pressures.
As the economy is officially in hyperinflation, savings and value have been lost, resulting in pensioners monthly payouts being wiped off.
“Pensioners will be getting US$30 while civil
Insurance companies should accumulate inflation linked product to preserve value: Mangudya
Harare – RBZ governor, Dr John Mangudya said the central bank will provide insurance companies a product that is inflation linked in a bid to preserve value for them and the pensioners, although analysts are skeptical about the prospects of such a product which presently does not future among the possible
New registration fees for pension funds, as fund administrator rules are amended
Own writer
HARARE – The ministry of Finance has gazetted a new Statutory Instrument (SI) 91 of 2020 that deals with fund administrators, principal officers, registration fees as well as financial results of pension funds.
For a person to be a fund administrator according to SI 91 of 2020, one has to be an insurer