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Posted by Clancy Philippe on 6/5/2008, 9:11 pm
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Mauritius reviews retirement age
Mauritius prime minister, Navin Ramgoolam, announced on Monday that the retirement age for salaried workers would soon be extended f r om 60 to 65 years to prevent a financial disaster at the National Pension Fund ( FNP).
Tuesday 6 May 2008
Speaking during the celebration of the 100th birthday of a Mauritian lady in Triolet, a village located in the north of the island, Mr Ramgoolam said Mauritius did not have an option.
"This is very urgent. On the contrary, FNP will no longer be able to pay the monthly pension to retired people in a few years in view of the large number of beneficiaries and the reduction of the number of salaried workers that contribute to the Fund," he said.
However, the prime minister said, Mauritians would continue to get their old age pension at the age of 60 years, as was currently the case.
The Ministry of Social Security said any Mauritian who attained the age of 60, whether he was working or otherwise, rich or poor, got a non-contributing pension worth 100 dollars a month until he/she died.
Those who work also benefit from a sum of money depending on the number of years and how much they contributed to the fund.
Extract from Panapress.
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