Staff writer
The Zimbabwe Association of Pension Funds (ZAPF) has opened nominations for three vacant council seats ahead of its 51st annual general meeting and annual conference set for May 14 in Victoria Falls, as the pensions industry pushes for stronger leadership amid ongoing sector reforms.
ZAPF has invited members to submit nominations by April 28 for the three council positions becoming vacant through retirement.
In a notice issued on April 14, ZAPF said nominees must come from fully paid-up member funds and meet strict governance and integrity standards.
Candidates are also expected to bring skills in areas such as risk management, regulatory compliance, corporate governance, business leadership and public policy.
The association said the elections will be held during its AGM at 1200 hours at Elephant Hills Resort, where members will also review the association’s performance, consider the chairman’s annual report and adopt audited financial statements for the year ended December 31, 2025.
The AGM is expected to provide a platform for pension funds and industry stakeholders to discuss key issues affecting retirement savings, governance and long-term sustainability in Zimbabwe’s pensions sector.
The upcoming meeting follows the association’s 50th AGM held in May last year, where members highlighted unpaid pension compensation as one of the industry’s biggest unresolved issues.
At the 2025 meeting, ZAPF said the US$75 million pension compensation programme was still facing delays, largely because some beneficiaries could not be traced due to missing contact details.
Members also raised concerns over the viability of smaller pension funds under the expenses framework, saying many operators were facing losses while some shareholders were opting for umbrella funds or exiting fund administration.
On investments, ZAPF said compliance with prescribed asset requirements had improved to 11% by the fourth quarter of 2024 after several projects were granted prescribed asset status.
However, members flagged concerns over underperforming investments, including the Harava Solar Project, and called for tighter oversight.
The association also reported progress on pension education and skills development through partnerships with institutions such as Harare Institute of Technology, where discussions were at an advanced stage to introduce postgraduate pensions management programmes.
ZAPF said this year’s AGM will be critical in shaping the industry’s policy direction as members seek stronger representation and practical solutions to improve pension delivery and restore confidence in retirement savings.
