Govt ring-fences pensions

Source: Govt ring-fences pensions | The Herald September 18, 2019

Minister Kazembe

Farirai Machivenyika Senior Reporter

Government has moved to protect contributions by members into pension funds after approving the Pensions and Provident Funds Bill.

The Bill was approved by Cabinet yesterday.

Presenting the 33rd Cabinet Meeting Decision Making Matrix yesterday, Acting Minister of Information, Publicity and Broadcasting Services Kazembe Kazembe said the Bill would also ensure the sustainability of the insurance sector as a whole.

“Cabinet considered and approved the Pensions and Provident Funds Bill which was presented by the Attorney-General (Mr Prince Machaya),” Minister Kazembe said.

“The Bill seeks to ensure protection of pension fund members and beneficiaries interests, ensure security of funds and ensure sustainability of the pension insurance sector as a whole.”

Meanwhile, Cabinet also reviewed the minimum wages for domestic workers.

“Cabinet also agreed to review minimum wages per month for domestic workers and workers without industrial employment councils, in what are commonly termed unclassified operations as follows: gardener $160; housekeeper $168,48; child minder $179; disabled minder with a Red Cross certificate or equivalent $189,70 and workers in unclassified operations, $338,” Minister Kazembe    said.