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The retirement age issue

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By Greenwell Nyirenda

President Edgar Lungu recently instructed the Minister of Justice to make an amendment of Statutory Instrument No.63 of 2014 to introduce a graduated arrangement that will afford employees the following options: (a) Early Retirement – 55 years (b) Normal Retirement – 60 years (c) Late Retirement – 65 years.

This has been a very debatable issue between policy makers and those offering checks and balances

I personally have disagreed with this kind of approach of legislaturing the retirement age. This country is full of graduates wandering in the streets looking for Jobs, then we have 65 years old employees, tired and worn up who are sitting in government and corporate world offices at the expense of young and vibrant young people.

President Lungu’s approach is understandable, going by the average global retirement age, which stands at 63.5 years for women and 65 years for men. But fairly speaking, this government shouldn’t have thought of even increasing the retirement age in the first place because they have terribly failed to create employment among young people.

What President Lungu has done is not necessary reducing the retirement age but decorating it with the so called early retirement options. Which will be mostly utilised by those under serious medical conditions which need resting, the rest of the employees will is presumably going to utilise this incentive of 65 years option to the maximum.

Zambia is a poor nation, mostly people depend on their salaries. Thinking that some one will walk away from his/her salary at the old age when he/she he is grown and needs all the resources is wishful thinking. The truth of the matter is we are going to have people staying In employment for upto 65years.

I am sure few will ever opt for early hanging gloves. Its time Lungu’s government should unemployment with utmost attention it deserves, this retirement optional will make it difficult for a vacancy to occur in public and corporate institutions.

God bless Zambia

 

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