Retirement age
October 14, 2010
It is standard practice for most people to retire from their jobs at the age of 65. Apparently there is no law in South Africa that specifies that people are supposed to be retired at that age, but companies usually have a retirement age policy that is communicated to new staff when they take up employment with the company.
I personally don't know where this magical figure of 65 came from, but can only guess that when this pactise started people were generally expected to live for the next 15 years as pensioners.
The question that I want to ask is, is this practice still valid today? After all, things have changed considerably over the years.
Firstly, people are now living longer because of modern medicine. The life expectancy has improved so much that we now have 90 year olds that are still active in the economy. Is it fair then to expect people to live on a measly pension for 30 years or even more?
Secondly, many of these people who are retired are very skilled and, lets face it, there is a shortage of skills in our country. Does it therefore make sense to retire a 65 year old engineer who is still sharp mentally? Or a 65 year old doctor who still works for a state hospital, where younger doctors are reluctant to work as they prefer their own private surgeries? Or a 65 year old Mathematics teacher with 25 years experience?
Of course, jobs must be created for young people who finish their university studies. But does it necessarily have to be at the expense of old people? And lets face it, the new graduates are probably not as skilled as the old professionals who have been in the field for years. besides, the younger professionals often don't even want to work in the rural areas.
Gone are the days when old people were regarded as burdens to society or people who just ate and slept. Nelson Mandela is a case in point. He continued working even when he had officially retired from office. And the country could probably have benefited more if he continued as president for a few more years.
What do you think?
I personally don't know where this magical figure of 65 came from, but can only guess that when this pactise started people were generally expected to live for the next 15 years as pensioners.
The question that I want to ask is, is this practice still valid today? After all, things have changed considerably over the years.
Firstly, people are now living longer because of modern medicine. The life expectancy has improved so much that we now have 90 year olds that are still active in the economy. Is it fair then to expect people to live on a measly pension for 30 years or even more?
Secondly, many of these people who are retired are very skilled and, lets face it, there is a shortage of skills in our country. Does it therefore make sense to retire a 65 year old engineer who is still sharp mentally? Or a 65 year old doctor who still works for a state hospital, where younger doctors are reluctant to work as they prefer their own private surgeries? Or a 65 year old Mathematics teacher with 25 years experience?
Of course, jobs must be created for young people who finish their university studies. But does it necessarily have to be at the expense of old people? And lets face it, the new graduates are probably not as skilled as the old professionals who have been in the field for years. besides, the younger professionals often don't even want to work in the rural areas.
Gone are the days when old people were regarded as burdens to society or people who just ate and slept. Nelson Mandela is a case in point. He continued working even when he had officially retired from office. And the country could probably have benefited more if he continued as president for a few more years.
What do you think?
Posted by Steven Letsatsi. Posted In : Society
This is a blog about any issue that I find topical.
