Raising the retirement age

[davymaraj]

anyone agree to raising retirement age

[racedriverpro]

Nah... See too much ppl die close to retirement. PP just trying to save money, rather not have to spend money they don't have.... Which trini want to work beyond the current age of retirement. Wish I could retire now and collect a nice pension.

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[Dizzy28]

I agree however it should be voluntary though.
We are living in a country that is projected to have a decline in the working population by around 2025. That means a lost of productive capacity, tax paying persons and skills and experience. Our current Population growth growth is negligble and we will have trouble being competitve if we dont do something drastic. An increased age for retiring is one, structured immigration is the other.

[desifemlove]

What's wrong with current system? anybody post-65 can work, and obviously pay tax. No need to raise retirement age, this means 5 more years of mandatory working.

[Redman]

Also kicks NIB commitments out another 5 years.

Has there been any analysis as to whether NIB CAN meet its commitments ?

[Dizzy28]

What's wrong with current system? anybody post-65 can work, and obviously pay tax. No need to raise retirement age, this means 5 more years of mandatory working.

The current system in the public service does not allow for working past 60. Thereafter people would have to be bought back on contract.

[Obi-Wan]

As people live longer and birth rates decline the ratio of older persons in the population will grow, raising the retirement age means that still productive people can still contribute in the work force. Age 60 is on the low side compared to the rest of the world:

https://en.wikipedia.org/wiki/Retirement_age

and NIB conducts actuarial reviews regularly:

http://www.nibtt.net/Actuarial_Review/N ... w_rev.html

[sharkman121]

was it optional?

[Spitfir3]

was it optional?

she did mention numerous times that it is optional

its just a choice offered to those who are willing an able to

[Dizzy28]

My father retired from the public service at 60..got a job in the private sector in a totally unrelated field and did that for a number of years till he got a heart attack earlier this year and did triple bypass.

He would have worked on in the public service had they allowed it.

[hustla_ambition101]

Problem with many of these old farts is that they are resistant to change and technology. They also do not like to share info and train lower level staff and pass on knowledge even though all the work they did was done using Ministry (State) materials. The racket is, not train anyone and return as a consultant. Let them make their years and go home at 60 and rock, sleep, explore etc.

[zoom rader]

Problem with many of these old farts is that they are resistant to change and technology. They also do not like to share info and train lower level staff and pass on knowledge even though all the work they did was done using Ministry (State) materials. The racket is, not train anyone and return as a consultant. Let them make their years and go home at 60 and rock, sleep, explore etc.

You will mostly find that behaviour in State companies, but its soon be coming a thing of the pass.

I worked in a company like that where guys would not tell you anything, they would even hide drawings (P&IDs, logics, Loop Sheets ect). Management knew of it and one by one they got rid of them Via VSEP and ect.

New thinking is if you don't pass on knowledge & training you wont be able to get promotions & bonuses ect. Some Guys refused to comply and they remain at the same level while the guys that took time to pass on stuff went up the ladder.

In some cases management is to blame for all this as in trini its always a friend friend thing.

[Dizzy28]

Source:NIB 2012 Actuarial Review

Of concern for this country should be the fact that the ratio of contributors to pensioners is steadily declining. A smaller productive base has to contribute to an ever increasing non-productive base.

Alluh study who not sharing knowledge and doh study who will be paying contributions when its time for we to retire.

[pete]

National Ponzi Scheme..

[Dizzy28]

There is a heavy similarity Pete...the ones who put in first benefit early on and those later on have to depend on more contributors joining.

[zoom rader]

NIB had always been a ripp off, all some run around to get any money that's due to you

[gtr_fever]

i totally understand the reasoning and stuff for doing and/or not doing this...i just cant handle more old people on the road...worse thing i find is ah old man at at intersection!!