Thursday, 12 October 2017 | MYT 12:00 AM
New way of calculating pension needed
I REFER to the letter, “Give government pensioners good news too” (The Star, Oct 9), where the writer stated that government pensioners can be divided into two categories – those who have served the Government for more than 25 years and those who have served less than that number of years.
Let us not forget that ever since the retirement age of public servants was raised to 60, the number of years of service with the Government has increased considerably.
At present, pension calculation is based on a maximum number of 30 years of service. That would not be equitable if length of service is not taken into account, other things being equal.
The exact number of full years should be used in the calculation of pension. Pretty soon, there will be a big number of government retirees who have served 35 or more years.
The real happy news would be for the Government to work on the new formula based on the exact number of solid years of service so that the current retirees and future ones would have a more easy-going time of rest and peace.