Staff Writer
ZIMBABWE Association of Pension Funds (ZAPF) Chairperson Phoebe Zvisinei Chawasarira has urged fund managers to strengthen governance, transparency, and value creation to restore and sustain public trust in the pensions industry.
Chawasarira said the lessons from past economic crises must guide the industry’s next chapter, warning against repeating the mistakes that eroded member confidence during the hyperinflation era.
“To sustain our legacy, we must recommit ourselves to the principles that have anchored this industry: prudence, integrity, innovation, and advocacy,” she emphasised.
Speaking at the 6th Edition of the ZAPF Principal Officers and Chairman’s Convention in Masvingo, running under the theme “50 Years of Pension Leadership: Sustaining Legacies, Shaping Futures,” Chawasarira said the sector’s long-term survival depends on responsible stewardship and renewed commitment to fiduciary duty.
She noted that the pension industry has been central to Zimbabwe’s economic growth over the past five decades, having financed industries, supported infrastructure, and provided a vital safety net for millions of families.
“Over the last five decades, the pension sector in Zimbabwe has been at the heart of social and economic development. We have financed industries, supported infrastructure, and provided a vital safety net for millions of Zimbabwean families,” she said.
However, she acknowledged the sector’s painful past, especially the massive erosion of pension value during the hyperinflation period before 2009, which left many retirees destitute.
“We cannot speak about pensions in Zimbabwe without acknowledging one of the most painful chapters in our collective history. Lifetime savings, faithfully contributed over decades, were wiped out in real terms. The promise of retirement security was broken, and the confidence of members tested,” she said.
Chawasarira said the industry must draw from those lessons to build a more resilient, transparent, and member-driven system that safeguards retirement savings from future shocks.
“The future of pensions will not be defined by what we lost, but by what we build next,” she said, noting that ongoing discussions around regulation, technology, strategic investments, and member welfare are key to shaping a more sustainable sector.
She also called for stronger collaboration between funds, regulators, and government to ensure that pensions remain a cornerstone of national stability and inclusive growth.
“As we shape the next 50 years, let us also strengthen collaboration between funds, regulators, and government, ensuring that our pension system remains a cornerstone of national stability and inclusive growth,” she said.
Chawasarira said the 50-year milestone represents both celebration and reflection — honouring a legacy built on advocacy, accountability, and transformation.
“Let us celebrate our past with gratitude, engage our present with courage, and embrace the future with renewed purpose,” she said.
The convention brought together principal officers, chairmen, regulators, and partners from across the pension industry to reflect on reforms, member protection, and strategies for long-term sustainability.
