THE BARBADOS WORKERS’ UNION (BWU) has urged statutory corporations to stop pressuring employees into early retirement.
BWU general secretary Toni Moore told reporters yesterday that while the statutory retirement age was 66 years and six months, some agencies were telling workers they had to quit at age 65.
“If an individual opts to [retire] earlier, let that be their choice, but the management should not be placing employees in a situation where they cannot get a full pension at age 65 but you’re saying to them your time is up, you have to go,” Moore said during a media briefing at the union’s Harmony Hall, St Michael headquarters.
Moore pointed out that reform of the pension laws allowed people to retire early, at 65, but with a reduced monetary allocation.
Those who exercised the option lost 0.5 per cent of their pension each month, she calculated. (TY)
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