RETIREMENT AND PENSION The Zambia Congress of Trade Unions says it will oppose intentions by government to amend the Pensions scheme to do away with lump sum pension pay outs for pensioners.Under the proposed new Pensions scheme, government wants to do away stop lump sum payments for retirees opting to introduce piece meal monthly payments. We agree. Is it becasue the government has run out of money to be paying in piecemeal?.Has the projected budget deficit caused all this?When a retiree recieves a lump payment,it enables them to plan on what other future vocation they will do.Making them continuosly dependant on pension isnt good.The retirement age increase also from 55 to 65 years leaves the majority youths unemployed except to fill in the vacancies due to death,sickness etc.Can a policeman or a combat soldier who is 60 be as energetic as someone around 40years?
Posted on: Tue, 27 Aug 2013 07:31:33 +0000
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