IPEC begins compensation payments to 8,600 pensioners

The Insurance and Pensions Commission (IPEC) has begun disbursing US$200 compensation payments to 8,600 private occupational pensioners affected by Zimbabwe’s 2019 currency reforms.

The payments are being funded by a dividend from Mutapa Gold Resources under a Government arrangement established in 2020 to compensate pensioners whose benefits were eroded by the currency conversion.

In February 2019, the Reserve Bank of Zimbabwe introduced the RTGS dollar as the country’s sole legal tender, ending a multi-currency system that had been in place since 2009.

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