Former Chairman of NDC UK & Ireland branch as called for the statutory retirement age to be pushed up from 60 to 65 years in order to reduce pressure on the pensions fund and in consonance with trends across Europe.
“Ghanaians are sent home too early – age 60 is too early. If you move it to 65 years, you reduce pressure on the pensions fund and you will still have the benefit of people still productive” Horace Ankrah said.
He noted that in other advanced countries, such as UK, Holland and Germany the retiring age has been increased because citizens are still found to be productive despite clocking past 60 years.He was speaking on Multi TV’s AM Show Wednesday discussing the strike by 12 labour unions over pensions. The workers some of who will be retiring next year are unhappy that government was holding on to their 2nd tier pensions which they believe should be managed by private fund managers of their choice.
Weighing in on the issue, Horace Ankrah observed that at the heart of the matter is that job-seeking graduates need jobs while the older retiring employees worry about leaving their jobs. He said indirectly the real problem is that ageing public employees are worried about going home because they believe they can still work.
Picking the current Inspector General of Police Mohamed Alhassan as an example, he argued that the IGP despite turning 60 years looks very fit and is still delivering on the job.
The IGP has been given an extension on his contract.
Although this proposal implies lesser employment rates for job-seeking graduates, the NDC chairman argued that a more creative collaboration between industry and academia to design new job opportunities.
“Creating more jobs” will help more youths to be less anxious about their future and also reduce fears of ageing employees about retirement.
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