THIS BILL WAS GAZETTED ON 21st FEBRUARY 2020
BILL
To provide for the registration, regulation and dissolution of pension and provident funds; to provide for the additional functions of the Insurance and Pensions Commission, to repeal the Pension and Provident Funds Act [Chapter 24:09];
and to provide for matters connected with or incidental to the foregoing.
ENACTED by the Parliament and the President of Zimbabwe.
PART I
Preliminary
1 Short title
This Act may be cited as the Pension and Provident Funds Act [Chapter……..].
2 Interpretation
(1) In this Act—
“actuarial surplus” in relation to—
(a) a fund that is subject to actuarial valuation, means the excess of the fair value of the fund’s assets; over the fund’s past, current and expected future liabilities ;
(b) a fund that is exempt from actuarial valuation, means the difference between—
