Looming Retirement Age Hike, Minimum Wage Increase Sparks Mixed Reactions

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NASSAU , BAHAMAS – For this resident, the opportunity to work longer is something that could have made a difference.

Resident

“I wish it was increased during my time, ’cause I just 72, and I still feel like I could’ve worked much longer.”

The proposal, discussed by Labour Minister Pia Glover-Rolle at the Exuma Business Outlook Conference, would see the retirement age in the public sector increase from 60 to 62, and in the private sector from 65 to 67.

Also on the table is a possible increase in minimum wage, which currently stands at $260 a week.

But not everyone believes extending working years is the right approach.

Kristine Turnquest – Resident

“It could be like that, let me put it that way, but not to extend the years to say, well, you’re gonna get paid until 65, 67. I mean, you’ll get paid a stipend since you don’t want to stay home then. So you’ll get a stipend, you understand what I’m saying, and train the younger persons that are coming up. Those who are coming out of school, coming out of college, they need to be trained.”

Turnquest supports an increase in the minimum wage, saying workers should receive better pay for their efforts.

“I would say minimum wage to be raised for true. I could see that raise, ’cause people need to know that they work all week and they get a decent set of pay. I could see that, you understand me. More than, ‘I don’t feel like going to work,’ but if the money right, you want to get up.”

While Turnquest supports higher wages, the government says the proposed retirement changes are aimed at protecting the long-term financial stability of the National Insurance Board fund.

Patrick Darling, however, believes asking workers to put in an additional two years is unfair.

Patrick Darling – Resident

“I disagree. I think after working for so many years, persons look forward to retiring, and it’s unfair for those now to have to labour for an additional two years in their senior years to receive retirement payment.”

Rosetta Johnson also favours an increase in the minimum wage but believes the current retirement ages should remain in place.

Rosetta Johnson – Resident

“Well, the minimum wage definitely needs to go up, but the age thing, no, I don’t agree with that. 65 is a little bit old anyway to be retiring. So I would say 60 is good for me. After that, that’s it.”

And for some residents, the minimum-wage debate is about more than just a paycheck. It’s also about the cost of living.

Anonymous – Resident

“When you increase the minimum wage, it trickles down to the stores and everything. It needs to be increased. That’s just fair and a realistic thing to think about.”