Zimbabwe Pensions and Insurance Rights Trust (ZimPIRT) is an organization that champions the rights of pension fund members and insurance policyholders.
Says Mr Nhamo "I have always wondered why @IPECZW protects errant employers , and pension and insurance providers. I still have to see IPEC taking an employer to task for failure to submit deducted contributions on time. @ZimTreasury
The IPEC responses & statements in the article “ZWL 626m Worth of Processed Pension Funds Unclaimed”, @ZimEye , September 7, show @IPECZW as an institution skating around its established regulatory role of protecting consumers of pension and insurance services in Zim.
Definition not in keeping with international standards, appearing to be contrived to suit insurance companies. this implies that anything else derived from it is wrong. In these circumstances Guidance breaches SI 41 2019 requiring compliance with international standards.
says pensioners & insurance policy holders were prejudiced and must therefore be compensated.
Why is it taking years to implement? Perhaps pensioners and policy holders should be paid interest for the late implementations. @ZimTreasury
Says Mr Nyamanhare "You are right @ZimPIRT@MartinTarusenga. IPEC in their 1st Edition of "Consumer Education Newsletter" of April-August 2018, there were $25 million unclaimed benefits as at 31 December 2017 covering 23 510 pensioners not claiming benefits. Highest numbers of
The IPEC responses & statements in the article “ZWL 626m Worth of Processed Pension Funds Unclaimed”, @ZimEye , September 7, show @IPECZW as an institution skating around its established regulatory role of protecting consumers of pension and insurance services in Zim.
unclaimed pensions being in clothing mining industries. The figures keep increasing thus showing that @IPECZW are not addressing these issues to the relevant companies or pension funds involved.
Equally it's taking IPEC years to implement the Justice Smith Commission report that
The IPEC responses & statements in the article “ZWL 626m Worth of Processed Pension Funds Unclaimed”, @ZimEye , September 7, show @IPECZW as an institution skating around its established regulatory role of protecting consumers of pension and insurance services in Zim.
Justice Smith Commission report, which @ZimTreasury tasked it (albeit irregularly) to carry out. Pensioners and insurance policyholders have not heard from IPEC, despite their proactive approach of @IPECZW with compensation propositions. Many pensioners & insurance policyholders
Definition not in keeping with international standards, appearing to be contrived to suit insurance companies. this implies that anything else derived from it is wrong. In these circumstances Guidance breaches SI 41 2019 requiring compliance with international standards.
Many pensioners continue to ask about the implications of @IPECZW Revaluation Guidance Paper https://t.co/gl6D1x88Xm ZimPIRT as a pensioner organisation raised concerns with Guidance paper, in particular definition of ‘Revaluation Gains’.
The Guidance paper definition doesn’t seem to be in keeping with international standards, appearing to be contrived to suit insurance companies. Wrong definition, & premise simply implies anything else derived from it, is wrong. Guidance paper therefore breaches SI 41 2019
Many pensioners continue to ask about the implications of @IPECZW Revaluation Guidance Paper ZimPIRT as a pensioner organisation has raised concerns with Guidance paper https://t.co/gl6D1x88Xm , in particular, definition of ‘Revaluation Gains’.
The Sunday Mail article “Insurance, pensions industry’s missing key”, refers. The article highlights perspectives of individuals about pension & insurance service provision in Zim. None of these perspectives discusses the pertinent issue of when rightful benefits will be paid
The Sunday Mail article “Insurance, pensions industry’s missing key”, refers. The article highlights perspectives of individuals about pension & insurance service provision in Zim. None of these perspectives discusses the pertinent issue of when rightful benefits will be paid
The Smith Commission report finds pensioners were prejudiced & recommends compensation. @IPECZW has yet to publicly announce its intention on implementation of this compensation &regulatory intervention preventing any future such prejudices. There's silence about @IPECZW capacity
The Sunday Mail article “Insurance, pensions industry’s missing key”, refers. The article highlights perspectives of individuals about pension & insurance service provision in Zim. None of these perspectives discusses the pertinent issue of when rightful benefits will be paid
Public subscription to these pension/insurance products now & in the past (over many years) is testimony to the relevance of the products. It is payment of the contractual benefits that is an issue, and that the Commissioner omits talking about.