Heather Robinson IN THE normal course of life we go through various cycles. The more we work, the harder we work and the older we get we begin to look forward to that big moment in life retirement
During that 40 or 45 years of work it is expected that we will make the necessary preparations for retirement. Perhaps the most important aspect of that preparation is the funding of an adequate pension. Jamaicans who retire and receive a pension from their employer (past) have for the most part contributed to this pension plan to a maximum at present of 10 per cent of their income. Employers contribute 5 per cent. And there are some government employees who receive a pension from a non-contributory pension plan. In other words they have not contributed to the plan, and it is from the taxes of the Jamaican people that they will receive a pension.
Ideally during the 40 or 45 years of working it is hoped that with adequate and careful planning there will be enough to live a decent and comfortable life of retirement. The good planner will have a mortgage-free home, own a reliable and debt-free motor vehicle, have good health insurance benefits, and have no dependent children. The monthly bills will hopefully be confined to utilities, food, and medical expenses.
In most private sector entities and indeed in government there is a fixed retirement age for employees. The usual age is either age 60 or 65 or after a fixed number of years have been served. While in the minority of cases extensions might be given, the normal retirement plan does not provide employees with optional departure/retirement dates. In fact most employees can be told quite easily what is their exact retirement date in the year 2014 or 2019. This is a date that is usually looked forward to.
BEST TRIBUTE TO YEARS OF SERVICE
Another aspect of planning for one's retirement includes preparation of the mind and body for that big date. Older employees are encouraged to train younger employees to become their successors, and the model employee trains his successor to be even better than he was. This to some is the best tribute to their 40 or 45 years of service.
The process of mental preparation includes an acknowledgement that there is indeed life after work. Those who have failed to plan properly for this important time in life run the risk of not just being financially unprepared, but also emotionally unready.
Organisations and institutions run the risk of being destroyed by older persons who lead such and are unwilling to retire simply because there is no specific age limit prescribed. While holding on to these jobs younger persons who should have been preparing themselves for these roles become disenchanted and look elsewhere or develop high levels of hostility and impatience. During this period of uncertainty and confusion organisations are either destroyed, disintegrate or become boring to both those on the inside and outside.
In our political system there are no term limits. It is left purely to the discretion of individuals to know when to move on or go home. Some have decided to go before the normal retirement age having served two or three terms. Others have publicly announced their intentions not to serve beyond a certain time, and others wait on commissioned poll results.
Knowing when to go should not be that difficult a decision to make. In exercising the mind, politicians must of necessity be a little selfish. By being a little selfish, a politician can begin to think about family and self in a real way perhaps for the first time in a long time. Stop punishing your families, constituents and self in this terrible guessing game. Begin to demonstrate that you know when to go.
Most pensioners like to be able to visit their former places of work. Current employees embrace and hug them expressing interest in their current well-being and some very privileged pensioners are told 'we miss you'.
Persons who are past the age of retirement must hasten their departure dates before they become both blind and deaf. They must know when they need eyes and ears.
Heather Robinson is a Senior Life Underwriter and former member of Parliament.
