HARARE – The Insurance and Pension Commission (IPEC) has approved the liquidation Quetech Pension Fund effective September 30, 2017.
This is in terms of Section 10 of Pension and Provident Fund Act and rules of the Quetech Pension Fund.
Consulting actuary David Mureriwa has been appointed the liquidator of the pension fund.
In line with the liquidation of the pension fund, stakeholders are requested to come forward for their claims on their fund, according to a notice to stakeholders.
“Notice is hereby given that IPEC has approved the liquidation of Quetech Pension Fund in terms of Section 10 of the Pension and Provident Fund Act.
“All members deferred pensioners, pending exits or other stakeholders of the fund are requested to visit the fund administrators’ office to confirm their membership or claims on the fund,” reads part of the notice.
Stakeholders have also been given a month to April 16 to confirm their claims while objections over method of distribution by the liquidator should lodge their complaints with the Commissioner.
Quetech joins a string of other pension funds that have been liquidated of recent, among them Allied Banking Group Pension Fund.
These have been liquidated over mismanagement, liquidity challenges or failing to meet the minimum capital requirements among other challenges.