JUST IN: IPEC wants teeth

Tawanda Musarurwa
The Insurance and Pensions Commission (IPEC) expects that the promulgation of the Pensions and Provident Fund Bill will give it greater capacity to play its regulatory function better, commissioner Grace Muradzikwa has said.

The Pensions and Provident Fund Bill is expected to foster better corporate governance practices within the industry while adequately providing the legal basis for a troubled entities’ resolution framework as well as increasing the commission’s enforcement powers.

“There has been a lot of questions about the status of this bill (the Pensions and Provident Fund Bills). One of the motivations, coming out of the Justice Smith Commission of Inquiry was to empower of the Commission (IPEC) to be able to enforce a number of things. The bill waits gazetting, I think it’s at printing stage,” said told key stakeholders at IPEC’s inaugural annual general meeting this afternoon.