The Zimbabwe Insurance and Pensions Commission (IPEC), together with the Parliamentary Portfolio Committee on Budget, Finance, and Investment Promotion, held a workshop in Harare to review the proposed Insurance and Pensions Commission Amendment Bill, gazetted in December 2024. The proposals highlighted include extending IPEC’s regulatory oversight to medical aid societies and establishing a Policyholder and Pensions and Provident Fund Members Protection Fund. The session brought together the Parliamentary Portfolio Committee, IPEC, the Ministry of Finance, Economic Development and Investment Promotion, and the Attorney General’s Office to analyse the draft amendments. The bill was presented as expanding the Commission’s functions, introducing new governance structures, and aligning the regulatory framework with the Constitution, international best practices, and recommendations from the Justice Smith-led Commission of Inquiry on the Conversion of Insurance and Pension Values, including issues arising post-dollarisation. IPEC is scheduled to present the Bill to the rest of the parliamentarians during the week of 17 February 2025.
Zimbabwe Insurance and Pensions Commission 2025-02-18
Zimbabwe Insurance and Pensions Commission discusses amendment bill to regulate medical aid societies and create a Policyholder Protection Fund
The Zimbabwe Insurance and Pensions Commission, with the Parliamentary Portfolio Committee on Budget, Finance, and Investment Promotion, reviewed the proposed Insurance and Pensions Commission Amendment Bill. Key proposals include extending IPEC's oversight to medical aid societies and establishing a Policyholder and Pensions and Provident Fund Members Protection Fund. The bill aims to expand IPEC's functions, introduce new governance structures, and align the regulatory framework with constitutional and international standards.