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Can we afford to up the retirement age?
Dear Editor,
I recently read Freddie Kissoon’s article, “Is the white man smarter than 3rd world people?” and it makes me wonder whether Mr. Kissoon is truly committed to everything he writes about.
According to him, the white man has left countries like Guyana way behind because of their progressiveness by having a higher retirement age (65 and above), Guyana is still stuck on 55 because we inherited it from our colonial masters. That may be so but there is a reason for this.
You, above all persons, Mr. Kissoon, should know that “life expectancy” is the key determinant for retirement. In developed countries, life expectancy is way greater than that of Guyana. In the United States, it is about 72 for men and 73 for women, so it would seem logical that people do not want to be put out to pasture too soon. Add to that the superior medical technology, which help people to live longer than the expectancy level and you begin to get the idea why the retirement age can be floated in developed countries. I have no reason to believe that Guyana’s life expectancy rate has risen that much from the “colonial era 55”. Having individuals in undeveloped countries work until they choose to retire has its advantages and disadvantages.
The upside is that you have a more skilled and knowledgeable work force, better equipped to handle the country’s needs. The downside is that there will be limited opportunities for society’s young and emerging talent, who will be forced to wait upon that “aged” employee’s decision to call it quits. Guyana has a young workforce which is underemployed. I am not a supporter of any political party but I am aware of people’s criticisms of the government’s failure to create jobs for its youth. Can the country truly afford to up the retirement age thereby making opportunities lesser for its youth?
And one more thing, Mr. Kissoon, no matter what the pundits may think, people will always gravitate towards what they perceive to be in their best interests. Greed has its own self rewards. Based on the number of foreign nationals living in the United States of America, it is safe to conclude that the brain drain from undeveloped countries will not abate in the foreseeable future, regardless of what the governments may do to keep their intelligentsia at home. Almost everyone is after a piece of the “American Pie”.
Hubert Rodney
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