Despite the inflationary economic environment in which the 2 Pension Funds are operating, pensioners have received the following pension increases and bonus payments:
ZESA Staff Pension Fund
Amount/Percentage | Date awarded | |
Pension increase | 15% | 01 January 2019 |
Pension increase | 12% | 01 June 2019 |
Pension bonus | 4.5 times monthly pension with a minimum of ZWL330.00 | 01 June 2019 |
Pension bonus | 2.5 times monthly pension | 01 December 2019 |
Pension Increase | 120% | 01 January 2020 |
Zimbabwe Electricity Industry Pension Fund.
Amount/Percentage | Date awarded | |
Pension Increase | 15% | 01 January 2019 |
Pension Increase | 12% | 01 June 2019 |
Pension bonus | 4.5 times monthly pension with a minimum of ZWL330.00 | 01 June 2019 |
Pension bonus | 2.5 times monthly pension | 01 December 2019 |
Pension increase | 64.5% | 01 January 2020 |
From 2020 the thrust of the Funds is to give pension increases on a quarterly basis in order to mitigate the effects of increase in cost of living.