THE Insurance and Pensions Commission (Ipec) has raised alarm bells over a staggering 237 percent surge in contribution arrears within Zimbabwe’s pension industry.
The arrears skyrocketed to US$28,9 million in the first quarter of 2024, leaping from US$8,6 million recorded in the same period last year. Ipec’s latest report reveals a concerning trend, particularly among the top 50 funds with the highest unpaid contributions.
This has prompted urgent calls for action from both boards of funds and employers to address the issue that is jeopardizing members’ financial security.