Future-Proofing Zimbabwe’s Pensions: NDS 2 Charts the Path to Stability and Growth
The pension sector is set for significant transformation under NDS 2, which outlines reforms aimed at widening coverage, strengthening sustainability and enhancing confidence among contributors and retirees.
As of 2025, pension coverage is below 40% of the labour force, but Government aims to increase this to at least 45% by 2030.
“This will be achieved through mandatory occupational pension schemes, complementing the National Social Security Authority’s first-pillar provision,” the NDS 2 affirms.
This move is expected to widen participation, especially among workers in sectors where voluntary pension uptake has historically been low.
Recognising that past loss of pension value has eroded public trust, NDS 2 introduces measures to safeguard retirement savings.
The Strategy states that: “To preserve the real value of retirement savings, Government will introduce inflation-hedged and index-linked bonds and implement pension portability, allowing members to retain accrued benefits when changing employment or schemes.
“Development of inflation-hedged and diversified assets will include gold, property and equity indices, to preserve pension value amid price volatility.”
Through these interventions, NDS 2 seeks to build a more inclusive, secure and development-oriented pension system that supports workers throughout their careers and provides dignified income security in retirement.
For more on this, you can read NDS 2 from page 63. You can download the NDS 2 here