SRC Addressing the retirement age for teachers and civil servants.
The Salaries and Remunerations Commission (SRC) has tackled the challenge of lowering the retirement age for public officers and teachers to 55 years old in a straightforward and succinct manner.
As to the constitution, individuals with disabilities must retire at age sixty-five, while public employees and teachers must retire at age sixty.
In spite of this, a bill to lower the mandatory retirement age for all workers to 55 years old was recently introduced to parliament.
The idea’s proponents insist that the purpose of reducing the retirement age is to give more young people access to professional development and employment prospects in the service sector.
But Lyn Mengich, the chairwoman of the SRC, has a different take on the concept.
Speaking on this subject, Mengich thinks that sixty should continue to be the country’s mandatory retirement age.
The head of SRC said that lowering the retirement age would make more people eligible for pensions and hence increase the amount of money that taxpayers would have to pay.
Mengich addressed the matter on Spice FM, saying that the country needs to consider international trends in order to establish a standard.
This problem originated with the Public Service Commission (Amendment) Bill, 2023, which proposed to reduce the retirement age to 55 years old.
She said that some countries do not even have a retirement age.
She continued by saying that if a person retires at age 55, it means they are still productive and can make a significant contribution to the growth of the state’s economy at that age. It also means they are entitled for a pension at that age.
SRC’s CEO further argued that while productive employees still have excellent experience managing the state’s workforce, it would be utterly impractical to fire them at a young age.
In 2009, the government raised the retirement age from 55 to 60, giving all workers, regardless of disability, an extra five years of service.
The stated reason for the study and consequent increase in the retirement age was the government’s inability to pay for a sizable pension deficit as a result of several persons leaving the service.
The SRC, which determines pay for public employees like teachers, is adamantly opposed to the proposal to raise the retirement age, thus it might not pass.
SRC Addressing the retirement age for teachers and civil servants.
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