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THE proposal by the Parliamentary Portfolio Committee on Public Service, Labour and Social Welfare that the National Social Security Authority (NSSA) should reduce retirement age to be in sync with the depressed life expectancy in Zimbabwe is worth considering. A number of challenges, among them different ailments, hard economic conditions including loss of jobs and inability by many to secure health insurance, have seen many Zimbabweans arguably dying before reaching retirement.

This scenario has deprived many employees from enjoying their benefits.

It is against this backdrop that the proposal to reduce pensionable age from the current 65 years to somewhere where a person can enjoy his or her pension while still energetic is a noble idea.

If the age is reduced, it will be easy for NSSA to easily increase the monthly pay-outs pensioners receive from the current $60 to at least $150, a figure that we feel is reasonable and can enable pensioners to sustain themselves.

Regulations have set 65 years as normal retirement age, while 60 years is considered the normal retirement age in terms of the National Pension Scheme, while those in arduous employment such as mining, agriculture, heavy truck driving can have an early retirement at 55 years.

However, in view of the United Nations Economic Commission for Africa (UNECA)’s latest study that life expectancy of Zimbabweans is estimated at 54.0 years for males and 52.7 for females, we propose that the pensionable age be revised downwards from 60 years to at least between 50 and 55 years.

It is our humble submission that at this age, an employee will be fit enough to manage his or her pension fund by either starting a small business to sustain self until death or in case of those without houses, at least build a home for themselves and their children.

However, prevailing situation is that the majority of pensioners who spend the rest of their life creating wealth for the country, do not live to enjoy the fruit of their hard work as they die before attaining the pensionable age.

History has also shown that many dependants of the pensioners at times find it difficult to access their breadwinners’ money due to a number of challenges as they are tossed from one office to another.

We also challenge NSSA to invest workers’ monthly pension contributions in infrastructure that makes life easy for people when they eventually leave employment.

We want the money to be used to build clinics equipped with state-of-the-art medical equipment for pensioners to access cheaper and quality services.

There is nothing wrong in NSSA setting aside part of workers’ contributions as revolving seed money for workers to create business consortiums and help create wealth for themselves and the country.

In view of the new economic thrust the country is taking where people are being encouraged to start businesses and create wealth for themselves, there is no need for NSSA to continue holding onto workers’ contributions.

People should be given their pension contributions while they are still economically productive so that they invest it in viable businesses and create wealth for future generations.