Public Service Commission (PSC), Secretary, Service Commissions, Ambassador, Jonathan Wutawunashe yesterday said the Government Employees Mutual Savings Fund (GEMS Fund) is GEMS is a voluntary scheme that mobilises savings by government employees for the purpose of wealth creation to benefit those Civil Servants while still serving as well as post-employment.
The Ambassador revealed that the 2.5% of basic salary will be made by Civil Servants who opt to participate in the voluntary scheme.
“Since GEMS is being launched as a facility for wealth creation, upon termination of employment members can withdraw the totality of their contribution with accrued interest,” Wutawunashe said.
“GEMS is being introduced as part of the expanding portfolio of benefits to support the livelihoods of Civil Servants.”
Cabinet, this week resolved to establish garrison shops which are related to the GEMS Fund.
The Garrison Shops are to enable members of the defence forces to have additional benefit of accessing subsidized basic commodities that would be sold in the specialized shops located within cantonment areas according to Information Minister Monica Mutsvangwa.
Wutawunashe said, “These Garrison Shops are based on a self-finacing model as they entail selling of goods to custiomers.”
“Civil Servants will benefit from SILO Shops which will also operate on the basis of affordable pricing of commodities.”
Mutsvangwa said a steering committee comprising the Public Service Commission, Ministry of Finance and Economic Development; and the Office of the President and Cabinet will be established to decide on the implementation modalities of the Fund.
The Information Minister also said the Government will provide a lump sum injection of ZW$100 million from the budget to facilitate the expedited establishment of the Fund.
Wutawunashe said, “Logistical arrangements relating to the operationalisation of Garrison Shops are being worked out.”