National
Residents Split On Possible Retirement Age Change
NASSAU, BAHAMAS – The National Insurance Board has been directed by the government to discuss possibly increasing the nation’s pension or retirement age, according to National Insurance Minister Alfred Sears.
NASSAU, BAHAMAS – The National Insurance Board has been directed by the government to discuss possibly increasing the nation’s pension or retirement age, according to National Insurance Minister Alfred Sears. He told Parliament recently that the ratio of people working compared to retirees is “not sustainable.” The latest actuarial report recommends the retirement age be increased from 65 to 67.
Residents had mixed reactions to the possible change. Stanley Wood said some people take longer to adjust, while Ms. Brown believes it should remain at 67. Rev. Leslie Duncombe supports the increase, noting he is still working.
Many retirees I spoke to were not pleased with their current pensions, feeling the amount is insufficient.
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