EARLY RETIREMENT WORKSHOP WITHOUT PENALISATION

The Department of Community Safety and Transport Management Human Resource Management Directorate held a workshop about the early retirement options available for employees 55 years and above.

Incentivized early retirement is the new legislative mandate from Public Service where employees can utilize the option to take early retirement at their workplace without penalties. It was previously known that public servants can retire only after reaching the age of 60 years and above.

The cost of pension penalty weaver and additional financial incentives are calculated at two weeks of basic salary per year in the first twenty (20) years of pensionable service and 1 week’s financial incentive for each completed year of pensionable service thereafter.

Employees aged 60 to 63 years receive a financial incentive calculated at two (2) weeks of basic salary per year for the first ten (10) years of pensionable service,and one (1) week’s financial incentive for each completed year of pensionable service thereafter.

Human Resource Manager for Administration advises employees to check and confirm their records before going on retirement. “This process involves visiting Human Resource Management Directorate to go through your file and check if all is in order. That helps employees to be ascertained”, said Mr Letebejane.

The National Department of Treasury will oversee the whole process and applications, and the Head of Department (HoD) can request an employee to stay in service in terms of scares skills of an employee intending to go on retirement. Government Employee Pernsion Fund (GEPF), was also part of the programme to advise employees futher on the formalities and processes of applications.