A Decade Later, Former Ziscosteel Employees Haven’t Received Their Pension Pay-outs

Former Ziscosteel employees have now gone for about a decade without receiving their pension pay-outs after the government-owned company collapsed.

In 2015, then Finance Minister, Patrick Chinamasa, announced during a budget presentation that Ziscosteel employees had been terminated on three months’ notice with effect from December 31 of that year.

Since then, the workers have not received their pensions.

Ziscosteel board chairperson, Martin Manuhwa, recently addressed some of them at the company’s Redcliff premises but did not indicate when the pension payments would be made, NewZimbabwe reported. He said:

The issue of pensions is very painful.

As Ziscosteel, we are proud of pensioners because they are the ones who made this company to be what it is.

As Ziscosteel, we are urging the pension fund, IPEC and government to ensure that the commitment made in 2018 for the pensions through the pension fund.

As ZISCO board and management, we … we raised the issue with the authorities … that or our pensioners are not getting anything.

Even the industry minister spoke about this issue in parliament to have this issue resolved. She is so concerned about it.”

It’s not a ZISCO management issue per se.

The company will come in through their pension contribution which they have to be paying … (and) our concern is that Zisco must pay its portion. We feel for you and we will raise this issue.

Redcliff Member of Parliament (MP) Lloyd Mukapiko said it’s very sad that up to now the ex-workers are yet to receive their pensions. He added:

What is more saddening is the fact that some of these former workers are dying without receiving their pensions. There is a lot of uncertainty on when these former employees will receive their pensions.

Zisco Steel, also known as Zimbabwe Iron and Steel Company, was a state-owned steel company in Zimbabwe.

At its peak, it was one of the largest steel companies in the country and a major producer of steel products.

However, the company faced several challenges, including a shortage of raw materials, mismanagement and financial difficulties, leading to its eventual closure.

Post published in: Business

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