Debate on increase of retirement has strong basis – NAPSA

The National Pension Scheme Authority (NAPSA) says the current debate on the increase in the retirement age to 65 years has a very strong basis.

NAPSA Director Charles Mpundu says for Zambia the life expectancy has moved up with Zambians living longer than 40 years.

Mr. Mpundu explains that evidence on the ground shows that people can no longer talk about 55 as retirement as people are now living long than before.

He adds that if the retirement age is to remain at 55, the situation will be that people would retire at 55 and yet live even beyond the age of 70 in poverty as they would not have planned to live that long.

Mr. Mpundu says those debating the retirement age, should critically look at the advantages and disadvantages and look at which one outweighs the other.

He further states that the 65 years retirement age will not only work to the advantage of individuals who will have to retire but will also help the country as a whole and will also contribute to reduction of the high levels of poverty in the country.