The Zimbabwe government plans to set up a commission of inquiry to investigate whether pensioners and insurance policy holders were prejudiced when the country adopted a multi-currency system in 2009, APA learnt here Thursday.According to state-run news agency New Ziana, Finance Minister Patrick Chinamasa revealed that the inquiry was aimed at establishing how pension fund managers and insurers converted pension and insurance policy values from Zimbabwe dollars to United States dollars.
The commission would also be mandated to establish the extent of prejudice, if any, to pension fund members and insurance policy-holders.
"There are allegations which are being made that there were loss of values of their pensions and policies arriving from that changeover. I want to see this matter put to rest so I have mooted the root of setting up a commission of inquiry to go into this matter and I am happy to announce that it has wide support from industry," the minister said.
He said the commissioners to sit on the inquiry panel would be appointed in due course.
Pension and insurance companies claim contributions made during the Zimbabwe dollar era had been wiped out by inflation.
Source APA
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