By: Paul Sarran
October 10, 2023
The decision to increase the national retirement age from 60 to 65 is a clear example of the government’s disregard for the well-being of its citizens in Trinidad and Tobago. Finance Minister Colm Imbert’s justification for this move, citing increased life expectancy and decreased birth rates, is nothing more than a thinly veiled attempt to shift the financial burden onto the backs of hardworking individuals.
It’s astonishing that the government’s solution to the challenges faced by the national insurance system is to force people to work longer, denying them the retirement they have rightfully earned after a lifetime of contributions. The idea that an aging population and generous benefits are to blame for the financial strain conveniently ignores the fact that people have paid into this system with the expectation of a reasonable retirement age.
Furthermore, the so-called “consultations” with major stakeholders seem more like a formality than a genuine effort to consider the concerns of the people. The fact that there is “majority support” for this increase is dubious at best, and it raises questions about the transparency and integrity of the entire process.
It is disheartening to see Trinidad and Tobago follow the lead of other CARICOM countries in raising the retirement age, as if this were a race to the bottom in terms of citizens’ rights and well-being. Rather than blindly following these trends, the message is clear that the governments should strive to do better in finding equitable and compassionate solutions that balance fiscal responsibility with the welfare of their citizens, particularly when it comes to critical matters like retirement age and social security reforms.
(Paul Sarran is a student pursuing a Political Science degree at the University of the West Indies Global Campus in St. Augustine, Trinidad & Tobago.
He is currently in his final years of college and has intentions to become a Political Scientist or an Independent Senator)
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