AS a citizen who is a pensioner, I would like to request political parties and coalitions to keep the welfare of retired civil servants in mind as they draw up their manifesto for the 15th General Election.
It’s time to increase the mandatory retirement age from 60 to 62. Due to better healthcare services and adoption of healthier lifestyles, people are generally living longer these days, and can still work productively beyond the age of 60. Many “young” pensioners of my time, including myself, feel that we were retired a bit too early. With our acquired knowledge, skills and experiences, we believe we could have added more value to the services we were in had we been allowed to work for a few more years. I am sure many who are in the same shoes today share similar aspirations. So, at least offer an option to retire at 62 for those workers who are interested.
The way in which pensions are formulated and calculated ought to be reviewed. Currently, a factor included in the calculation is the total number of years of service rendered, which is a maximum of 30 years. With the pensionable age at 60, and hopefully 62 soon, most civil servants would have put in more than 30 years of service. This is especially true for those in the lower ranks. For example, someone with a diploma qualification who started working at the age 23 would have put in 37 years of service upon retirement. That their last seven years of service would not be factored in the calculation of their pension is unfair. This may even be the reason for many (especially in the teaching sector) to retire when they reach the 30-year threshold. The country could have gained much if they had remained in service. So, in your manifesto, pledge to take into account the full number of years of service in the calculation of pension.
The 2% annual increase to the pension amount also needs to be revised to reflect and tally with the rising cost of living. The rate decided should be based on the prevailing times instead of using a flat figure as is practised now.
Please help pensioners, especially those in the lower ranks, to have enough money so that they can be financially independent.
KC LIONG
Seremban
