Pensioners and life assurance policy holders in Masvingo province have urged the government to fast-track the announcement of the compensation framework after their claims were eroded during the conversion of values from Zimbabwean dollar to United States dollar in 2009.
The Consumer Council of Zimbabwe (CCZ) and the Insurance and Pensions Commission (IPEC) held a meeting with pensioners and policy holders in Masvingo who highlighted that they are facing difficulties in accessing their remittances from insurance companies.
The CCZ Executive Director, Mrs Rosemary Siyachitema said most of the pensioners are struggling to make ends meet following delays in accessing their pension funds.
“We have come to engage pensioners and give them more knowledge about how they can go about it in accessing their contributions. The problem is that some people have for a long time now tried to get pensions but unsuccessfully,” she said.
Pensioners and policy holders revealed that they are facing challenges in getting their pensions and compensation from life assurance firms.
“It is unfortunate that company deduct our monies monthly, but we then have to fight in order to get payouts,” said one pensioner.
“I have a funeral policy but when my son died, my claim was not processed as the company said I had defaulted for just a month,” another said.
Meetings with policy holders and pensioners are set to be held countrywide.