Pensioners who are part of the Communication Allied Industry Pension Fund (CAIPF) are currently facing financial difficulties, with monthly payouts as low as US$2.50  or ZWL 50,000 leaving many of them struggling to make ends meet. The fund, which caters to former employees of the Posts and Telecommunications Corporation (PTC), is managed by a board of trustees with the primary goal of providing financial support to retired members and their dependents.

During the colonial era and up to the present day, PTC was known for offering competitive salaries to its employees, making it one of the top-paying companies in Zimbabwe. As a result, many employees contributed a significant portion of their earnings to the pension fund, believing that it would serve as a safety net in their retirement years.

However, the reality for many pensioners today is far from what they had hoped for. With monthly payouts of only US$2.50 and an additional allowance of US$40, pensioners are finding it difficult to cover even basic expenses. The promise of potential increases to their payouts offers little comfort, as the uncertainty of the situation leaves many feeling aggrieved and anxious about their financial future.

Attempts to reach CAIPF’s chief executive officer, Reginald Magorimbo, for comment on the situation were unsuccessful, further adding to the frustration and uncertainty faced by pensioners.