网站公告列表

  NoAnnounce

Now Your Place: CSEAS >> Article Center >> Academic Research >> Southeast Asian News >> 正文 Return to the home page
  [Ap]Brunei's retirement age to be raised to 60 soon?    Hot Rec  ★★★ 【字体:
Brunei
AuthorYazdi Ya…    文章CopyFrombruneitimes|http://www.bt.com.bn/en/home_news/2007/11/14/bruneis_retirement_age_to_be_raised_to_60_s    Hits1478    UpdateTime2007-11-15    

Wednesday, November 14, 2007

With life expectancy of 74 years, moves are afoot to retain the services of skilled civil servants

IF THE study by various government agencies determining if the retirement age should be extended is in the positive, then the retirement age for civil servants in Brunei could be pushed to 60 years in the near future.

The issue of raising the retirement age has been raised in last year's Legislative Council meeting, especially in view of the fact that life expectancy in the sultanate is now at 74 years.

A member of the council spoke on the matter suggesting that studies should be made to examine the impact of increasing the retirement age from 55 years to 60 years, a move which sections of the local workforce would welcome warmly for several reasons.

There has been a growing concern towards the issue of the retirement age in Brunei that the mandatory retirement age of 55 years was too early.

The shift of age structures in developed countries has had a profound effect on their political, economic and social conditions.

An ageing population, resulting from better health care and better living conditions have led researchers to examine the effects of the aged — especially in terms of social security.

The extended tenure would ensure these experienced employees continue to contribute to the nation's development. Currently, a significant part of the workforce is under the Employers Trust Fund (Tabung Amanah Pekerja), similar to the Central Provident Fund in Singapore and the Employees Provident Fund in Malaysia.

A former prominent figure from the public service department, who declined to be named, agreed that by increasing the retirement age, in some cases where the experience is needed, would provide them with more time to mentor the younger generation.

He added, "Thirty years ago, if someone were 55, they would be considered old but now, with higher life expectancy rates, the potential contribution would still be considered high, especially as I feel that people nowadays are still active at 55."

He also highlighted that the extra years would give civil servants, under the TAP scheme, the chance to earn more money as there have been cases where retirees under the TAP scheme do not have enough at the end of the day. With extra money, it would also reduce government spending on social security schemes.

The implication of such a move would help provide better social security, especially for retirees. The extra earnings would be useful, once retired, especially to support their medical needs because older people who would need more healthcare. But questions may be raised on whether the people will want to continue working after 55.

Whether the retirement age is increased or it be made compulsory can affect the productivity of workers. Factors such as tiredness and lack of motivation should be considered before introducing such a change. Moreover, as a significant part of the local workforce is employed by the government, extending the retirement age would increase government expenditure.

If Brunei's retirement age were to increase to 60, the government would need to commit more funds (five years worth) for employee benefits.

Countries such as Singapore, with a retirement age of 62 and Philippines, at 65, have a higher retirement age than Brunei.

So why is Brunei not headed in this direction. Firstly, Malaysians and Singaporeans are mostly employed in the public sector and extending the retirement age does not affect government spending as much. In Brunei, the move would increase spending significantly.

The Brunei Times


Similar entries

 

   
Royal well-wishes for Haj pilgrims: His Majesty and the Crown Prince (2nd L), receive in audience 656 male pilgrims out of a total of 1,391 Haj pilgrims at the Istana Nurul Iman. The female Haj pilgrims were granted separate audiences with Her Majesty, HRH Pengiran Isteri and other female members of the royal family. Picture: Saifulizam

文章Inputer:egret    Editor:egret 
  • Prev篇文章:

  • Next篇文章:
  • Print】【Close
    Copyright©2014 CSEAS                          webmaster:titicka