Only three counters trade on Monday as Govt gazettes pension and health scheme for informal sector

Only three counters trade on Monday as Govt gazettes pension and health scheme for informal sector

By Insurance24

HARARE, Insurer, Old Mutual was among the only three counters that traded on Monday as the week opened on a low note with turnover at $550,535. Other insurers, ZHL, Fidelity Life Assurance, FMHL and Nicozdiamond witnessed no activity with rest of the market.

Apart from Old Mutual, activity was in Axia and Seedco. Axia rose by $0.0200 to close at $0.2300 while Seedco traded unchanged at $1.9500. Old Mutual was the only counter in the negative territory losing $0.0067 to settle at $5.6519.

A gain in Axia added a marginal 0.11 points to the All Share Index.  The Industrial Index gained 0.37 points while the Top Ten Index retreated 0.006 points. The Mining Index closed unchanged with no activity in the subsector.

Meanwhile, according to a government gazette of last Friday, the National Social Security Authority (NSSA)’s pension and health insurance schemes for the informal sector have been established, with paid-up beneficiaries being entitled to retirement pension, survivor’s pension, funeral grants and health insurance coverage.

The three voluntary schemes — Informal Sector, Health Insurance and Maternity Protection — will also include retirement grant, survivor’s grant, invalidity pension, invalidity grant and maternity cover as benefits.

The schemes will come as a boost to most informal sector workers and self-employed actors who have failed to access facilities from mainstream insurance firms that require consistent income.