THE Zimbabwean pensions industry continued to face significant challenges due to economic instability in the first quarter of 2024.
Soaring inflation rates and currency fluctuations severely eroded the value of pension fund assets, leaving retirees with significantly less purchasing power than they had anticipated.
The Insurance and Pensions Commission (Ipec) report for the first quarter of 2024 reveals that while the industry’s total assets increased in Zimbabwean dollars, they decreased by over 20 percent in U.S. dollar terms.