retirement mk kaw
Will the increase in retirement age check the tendency of government employees to seek extension by hook or by crook? At present, this does not seem likely
There was a time when government employees retired at 55 years of age. The received wisdom was that most people died at 50 or, at best, at 55. It then made sense to say goodbye at 55. The government did not have to pay the employee’s pension for too long a period.
As medical facilities improved, the average age kept on increasing. The government was compelled to take note of this trend and raised the age of superannuation to 58. But, the longevity of the average employee went on improving and a stage was reached when there was a clamour for a further increase in the age of retirement.