2025 Pensions Awareness Day message:- From Past Lessons to Future Security: Strengthening Pensions Together
The Insurance and Pensions Commission (IPEC) joins the rest of the world in commemorating Pensions Awareness Day by reaffirming its commitment to revitalising long-term savings through the pensions industry. We acknowledge the pain of past losses, which have informed policy, regulatory, and sector-specific reforms, not only to redress the past but to build a stronger and more resilient future.
Planning for retirement remains one of the most important social security elements, both nationally and individually. Despite the patched retirement journey for most of the elderly citizens, saving for the future remains key for ensuring dignity, security, independence, and peace of mind in retirement. Without adequate planning, today’s workers risk becoming tomorrow’s vulnerable citizens and a burden to the State and community, during retirement.
IPEC is working closely with all key stakeholders, including the Government, pension funds, and other stakeholders, to improve retirement outcomes for the pensioners of both the public and private occupational pension schemes. The five desired outcomes for an effective pension system are:
- Adequacy of pension benefits to protect against poverty and vulnerability in old age,
- Sustainability, which is long-term financial viability or soundness of the pension scheme’s design,
- Affordability to both individuals and the Government,
- Efficiency in terms of cost of administering the pension funds/schemes, and
- Coverage and Inclusion, that is, covering all segments of the population, particularly informal sector workers and vulnerable groups, to reduce poverty and inequality in old age.
On this Pensions Awareness Day, IPEC calls on all Zimbabweans to embrace retirement planning. A secure retirement is not only a personal responsibility but a collective investment in national stability and social protection.
Together, let us restore trust and secure our future.