Insurers to pay for Z$ losses
Insurance policy-holders and pensioners should be compensated for loss of value suffered as a result of hyperinflation in 2007-8 and the country’s adoption of a multi-currency system in 2009, a commission set up to investigate the effect of the change-over has recommended.
Also, the National Social Security Authority (NSSA) and other corporates should stop paying a flat pension benefit to retired contributors regardless of their salary level or years of participation in the fund, while funeral policy-holders should be compensated for alteration of benefits or cancellation of policies following dollarisation.
Read full story in today’s paper.
Also Read: THINGS YOU MIGHT NOT KNOW ABOUT GINIMBI
Genius Kadungure aka Ginimbi was a popular Zimbabwean socialite and businessman.
He was also the founder and Chief Executive Officer of a gas company, Pioneer Gases which has interests in Botswana, South Africa, and Zimbabwe. He was also the owner of Dreams Nightlife Club...read more