Should Ghana raise compulsory retirement age to 65?
Authorities in Ghana are calling for a national dialogue for a review of the country’s pension regulation to increase compulsory retirement age from 60 to 65. Would this move worsen the employment situation or help the state meet its retirement obligations?
Since 1992, the compulsory retirement age in Ghana has been pegged at 60. At the time, the average life expectancy was 57.4 years. 30 years down the line, life expectancy has increased to 64.4 years and the compulsory retirement age is still the same although other aspects of the country’s retirement and pensions policy have been reviewed.
Now, some stakeholders are calling for urgent discussions and considerations for an immediate review to sustain the country’s pension scheme.
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