Ipec cracks whip on errant pension funds

THE Insurance and Pensions Commission (Ipec) says it will toughen its stance against industry players after one out of 1 200 pension funds that submitted plans had met its compensation scheme requirements.

Ipec is taking 50 pension funds to court, commissioner Grace Muradzikwa said at the industry regulator’s annual general meeting held in Harare last week.

The commission last year directed insurers and pension funds to submit compensation schemes as an update for review and approval by December 31, 2023.

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