Pension Increases and bonuses from 01 January 2019

by May 2, 2020News

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.