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About Us

Governance

How ZAPF is governed, and how it works with Government, IPEC, pension funds, employers and members.

ZAPF in Zimbabwe's pensions system

ZAPF connects the people who make pensions policy, the regulator that enforces it, the funds that manage savings and the people whose retirement depends on them. It is a voluntary, non-profit association: it does not regulate funds, but it represents them.

Zimbabwe's pensions ecosystem ZAPF sits at the centre, in two-way dialogue with Government and IPEC and in a two-way membership relationship with pension funds. Government oversees IPEC, which registers and supervises pension funds. Employers pay contributions into pension funds, which manage savings and pay benefits to members. ZAPF provides education to members and awareness to employers. Oversees Policy dialogue Regulatory engagement Registers & supervises Membership & representation Savings & benefits Education Contributions Awareness ZAPF Government IPEC Pension funds Members Employers
Arrows show the direction of each relationship; double-headed arrows are two-way. Simplified from public information on Zimbabwe's pensions framework.

How the relationships work

ZAPF and Government
ZAPF makes policy submissions to the Ministry of Finance, Economic Development and Investment Promotion and is consulted when pensions legislation, such as the Pension and Provident Funds Act and its regulations, is drafted.
Government and IPEC
The Insurance and Pensions Commission (IPEC) is the statutory regulator established under the Insurance and Pensions Commission Act. It operates under the oversight of the Ministry of Finance.
ZAPF and IPEC
ZAPF is the industry's main channel for engaging the regulator on issues such as trustee standards, fund governance and the remittance of contributions.
IPEC and pension funds
IPEC registers and supervises pension funds, issues regulations, guidelines and directives, and protects the interests of fund members.
Pension funds and ZAPF
Funds, administrators, asset managers and other service providers join ZAPF. In return they receive representation, trustee training through the C.O.P, and industry information.
Employers and pension funds
Employers establish or participate in pension funds, deduct contributions from salaries and remit them, together with their own contributions, to the fund.
Pension funds and members
Funds invest members' savings and pay benefits on retirement, resignation, disability or death, according to the fund's registered rules.
ZAPF, employers and members
ZAPF promotes awareness of the importance of pensions among employers and individuals, and trains the trustees who look after members' money.

How the Association is governed

Members elect the Council at the Annual General Meeting. The Council sets the Association's direction, and the secretariat delivers it.

  1. Members

    Member funds and service providers attend the Annual General Meeting, receive the Council's report, approve the audited accounts and elect the Council.

  2. The Council

    The Chairperson, Vice Chairperson, Treasurer and elected councillors set strategy and policy positions and oversee the secretariat.

  3. The Director General and secretariat

    The secretariat runs training, events, membership services and advocacy day to day, reporting to the Council.

More in About Us

  • Our History

    Formed after the Pension and Provident Funds Act of 1976 to give the pensions industry one recognised voice.

  • Mission & Vision

    The purpose, values and long-term goals that guide the Association's work for members and pensioners.

  • Leadership & Staff

    The elected Council, office bearers and secretariat who lead the Association.

  • Annual Reports

    Annual reports, audited financial statements and Council reports presented to members at the AGM.