A HIGH prevalence of non-pensionable allowances in Zimbabwe has restrained contributions to funds, worsening liquidity challenges in the industry and creating a social security gap in the country, the Insurance and Pensions Commission (Ipec) says.
Non-pensionable payments have been on the rise since hyperinflation hit in 2019, after currency adjustments and have escalated lately due to Covid-19, with employers cushioning workers through allowances rather than salary increases.
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IPEC commissioner, Gace Muradzikwa
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