MP Pleads With Finance Minister To Increase Pensioners Payouts
Members of Parliament (MPs) have raised concern over the little monthly wages ranging from US$5 to US$60, paid in local currency to pensioners.
The issue was raised on Wednesday in the National Assembly by ZANU PF MP for Bindura South, Remigious Matangira who also said the pensioners were also queuing for very long hours at banks to access the money.
In response to Matangira’s plea, Finance and Economic Development Minister, Professor Mthuli Ncube promised to work with banks to improve the payouts and withdrawal limit for pensioners, which is currently $5 000. NewsDay Zimbabwe quotes him as saying:
Pensioners are, indeed, experiencing challenges in accessing their monthly pensions in banks, particularly at CABS, National Building Society, POSB, Steward Bank and NMB. CABS, for example, is using a new banking system which pensioners are not well versed with, hence most are failing to withdraw their income using ATM cards and consequently, tellers spend more time assisting clients on how to use the new system.
We also see resistance to new technology by pensioners, as some insist on getting cash from the banks instead of using ATM cards for purchasing goods and services.
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Some banks have introduced incentives for pensioners to transact using their bank cards, for instance applying zero charges for such transactions.
The Ministry of Finance also said:
1). it would look into the issue of charges across banks saying they must be standardised.
2). it had liaised with the Reserve Bank of Zimbabwe (RBZ) to remove the limit.
3). had negotiated for dedicated tellers for the convenience of pensioners so they do not stand in long queues.
4). CABS introduced agencies in Norton, Chitungwiza, Budiriro, Highfield and Greendale to assist with cash withdrawals in a bid to decongest banking halls.
5). the National Building Society (NBS) will have a special banking hall in Bulawayo starting next week and intends to collaborate with Metro Peach supermarket to serve the pensioners as an agency.
