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Nqobile Tshili Chronicle Reporter
A 55-YEAR-OLD Bulawayo man who served Ingwebu Breweries for 24 years had his life shattered after he was offered $124 as his lump sum pension payment.
Mandla Moyo, who started working at Ingwebu as a general hand but was later promoted to be a driver, yesterday expressed disappointment over the amount he was offered saying it was going to push him into destitution.

“I started working at Ingwebu as a young man and six percent was being deducted from my salary while the company was also contributing and they offer me $124.71.

“This is not fair. I’m now going to be a destitute because of my time in the company. I was expecting something like $35,000,” said Moyo.

He said after approaching Ingwebu on the matter, he was told that the 2008 hyperinflation was the reason why he is being given $124.
“This is the time I should be enjoying the investments of depositing my money, the benefits of working but they are offering me peanuts saying my money was affected by inflation,” he said.

Moyo said he has school going children he has to pay fees for and the derisory amount would affect his children’s education and future.
Chronicle is in possession of a letter from the Local Authority Pension Fund (LAPF) which states that some deductions would be effected on the $124.71 offered to Moyo.

“We refer to your estimated withdrawal benefit calculation and advise that according to our records, your pensionable services amounts to 24 years and two months and you are entitled to an option of either receiving, a withdrawal benefit which amounts to $124.71.”
“This amount is liable to pay as you earn which is deducted and the difference is payable or an accumulated interest in the fund which amounts to $124.71,” reads part of the LAPF letter.

“The rules of the fund stipulate that the mount is not payable in cash but should be utilised to purchase a retirement annuity from the registered insurer, which will provide a pension when the member would have attained 55 years of age.”

Ingwebu sales, marketing and cooperate affairs manager, Nkosana Ndlovu said he could not comment on the matter as pension issues were being handled by LAPF. “The pension is not being administered by us as you may know but by the LAPF. We sent his details to them we can’t comment on that,” said Ndlovu.

An official from LAPF who identified himself as Mandizvidza, said he could not comment as he had not received any complaints from Moyo.

“We haven’t received a complaint that you just ventilated. We have 10,000 clients I can’t confirm or deny anything but call me tomorrow because I don’t have his file with me at the moment,” said Mandizvidza.