PF begins process to change retirement age, again

Government yesterday presented the National Pensions Scheme (Amendment) Bill which seeks to increase the retirement age to 60 years and provide for early retirement at 55 years and late retirement at 65.

But countries like UK have phased out Default retirement age (formerly 65), meaning most people can now work for as long as they want to.

In fact, in UK it is now a criminal offence to discriminate against anyone because of age except for certain jobs like the military. This means that a 69 year old can apply for a job as Bank teller or any other job and you would be arrested if you denied the 69 year old applicant the job because of her/his age.

Deputy Speaker of National Assembly Mkhondo Lungu asked Minister of Labour and Social Security Fackson Shamenda to present the National Pensions Scheme Bill to amend the National Pensions Act.

Mr Shamenda said: “I intend to present the bill entitled the National Pensions Scheme amendment bill. The object of this bill is to amend the National Pensions Scheme Act so as to revise the retirement age. I thank you.”
Clerk of the National Assembly Doris Mwiinga read the bill for the first time in the House.
Mr Lungu referred the bill to the committee on economic affairs, energy and labour.

Last year, then acting president Guy Scott signed the Statutory Instrument number 63 that increased the retirement age from 55 to 65 years.
Guy Scott signed the statutory instrument on November 19, 2014 to effect the change.
“An officer in the public service shall retire on the 65th anniversary of the date of the officer’s birth,” the instrument reads in part.
It says an officer may, on giving a year’s notice and subject to the approval of the president, retire on or after attaining the age of 65 or after completing 35 years’ service.

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