Zimbabwe: Government Allocates U.S.$25 Million for Pre-2009 Pension Losses

The government has set aside US$25 million for pre-2009 pension losses to compensate civil servants, who were hard hit by hyperinflation linked value erosion.

Pensioners lost significant value during the 2008-9 hyperinflationary era which saw thousands of workers being paid peanuts.

In a bid to avert the crisis, the government appointed the Justice Leslie Smith Commission of Inquiry into pensions underpayments. When it presented its findings it established a series of anomalies and recommended the…