Reports that private-sector businesses are not complying with the Social Security Scheme’s official retirement age of 65 years are expected to be addressed in the New Year.
During its December 14 meeting, the Cabinet reportedly was informed that many workers in the private sector are having their employment terminated at age 60.
This has left these persons without an income for a period of two years before they become eligible for Social Security payments.
Therefore, in order to avoid this “untenable situation,” the Cabinet says the Government intends to establish a national retirement age “to move in lockstep with Social Security eligibility.”
This reportedly will happen in the New Year when a new session of Parliament is convened.