The Salaries and Remunerations Commission (SRC) has finally come out to air its views on the current debate that touches on the retirement age of teachers. The debate has understandably caused a lot anxiety among teachers, especially those falling within the retirement bracket or those above 50 years.
As per the constitution, it is required for public employees and teachers to retire when they reach sixty years of age. However, those who have disabilities must retire at age sixty-five. The new proposal that’s currently before parliament is however aiming to lower the mandatory retirement age to 55 for all public sector workers.
People who support this idea believe that if the retirement age is lowered to the proposed 55, there will be more chances for young individuals to find work and develop professionally in the service industry.
However, SRC Chairperson Lyn Mengich disagrees. Mengich believes the national mandatory retirement age should remain at 60.
Mengich argues that lowering the retirement age would increase the number of pensioners, putting a strain on the national budget as more people require payouts. Speaking on Spice FM, Mengich emphasized the need to consider global trends when setting a standard retirement age. She also pointed out that some countries don’t have a mandatory retirement age.
Mengich further argues that those who retire at 55 would be eligible for pensions, yet they remain productive and contribute to the economy.
The SRC head also highlights the impracticality of losing valuable, experienced employees who are still young and can guide the workforce.
It should also be noted that 55 years was actually in place before the year 2009 when the government decided to increase the retirement age from 55 to 60, granting all disabled workers an additional five years of service. The government cited the difficulty in managing a large pension bill due to a high number of retirees as the reason for reviewing and raising the retirement age.
The proposal for a new retirement age rule might not be approved because the SRC, which decides about salaries for public workers like teachers, strongly opposes it.