Online Reporter
Business Reporter
The Public Service Commission (PSC) is set to host a retirement planning conference in Bulawayo between September 24 and 26 this year at the Zimbabwe International Trade Fair (ZITF) grounds.
The event, expected to be attended by President Mnangagwa as the guest speaker, aims to prepare prospective pensioners for a dignified and financially stable life after they leave employment.
According to the PSC, the conference is designed to change the traditional mindset that retirement solely depends on pension payouts, which are often not enough to live on.
The PSC identified a gap where employees were not adequately preparing for life after work, leading to financial hardship. In response, a new department — retirement planning — within the PSC was created to equip workers with the skills and knowledge to begin small businesses and investment ventures while still employed.
The conference will feature various partners from the financial services sector, regulatory bodies and the private sector.
It will also provide information and opportunities for prospective pensioners to start their own projects.
The PSC said that the initiative is about more than just financial security; it’s about helping people maintain a sense of purpose and remain healthy after leaving the workforce. The conversation around the need for alternative income streams has been particularly triggered by the devastating effects of the country’s 2008 hyperinflation. During this period, the value of retirement savings was virtually wiped out, leaving many retirees with little to no financial cushion.
This experience has added a new urgency to the need for individuals to proactively build their own business ventures while still employed, rather than solely depending on traditional retirement savings.
This year’s conference follows a successful inaugural event held in Harare last year, which saw a number of participants embark on life-changing business ventures.
These success stories will be showcased as testimonials at the upcoming conference in Bulawayo.
Holding the event in Bulawayo is in line with the Government’s policy of “Leaving no one and no place behind.” As such, the PSC plans to host similar conferences in other parts of the country in the future.
The PSC is a constitutional body in Zimbabwe responsible for managing the country’s civil service. Its primary functions include appointing, promoting and disciplining public servants.
The PSC also sets the conditions of service, handles employee complaints and ensures the efficient and well-administered operation of the public service.
Essentially, it acts as the central human resources authority for the Government, working to ensure that the public service effectively implements government policies and serves the public impartially.
