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Joseph Madzimure-Senior Reporter
RETIREMENT should not be seen as a period of retreat, but rather as a time of renewal and reinvention, President Mnangagwa has said.
In a speech read on his behalf by Defence Minister Oppah Muchinguri-Kashiri at the inaugural Public Service Commission (PSC) retirement conference 2024 in Harare yesterday, the President said participatory development in communities offers a unique opportunity for retirees to apply their skills where they are most needed, fostering economic and social growth.
“This milestone event is a testimony to the unwavering commitment of the Second Republic to improving the welfare of those who have served our nation with dedication and honour.
“The doctrine of social protection is predicated on dignity in retirement. This dignity is borne out of the prosperity that comes from the sweat of those who selflessly serve the nation,” he said.
The conference, running under the theme, “Embracing a New Chapter: Empowering Public Sector Workers for Retirement with Dignity,” will end tomorrow.
The theme, President Mnangagwa said, reflects the significant strides the Government has made through various reforms aimed at strengthening social protection.
“As we write this new chapter, our focus is the dignity and empowerment of Government workers. We must ensure that retirement is not an endpoint but a meaningful new chapter contributing to the prosperity of our provinces, districts, and communities,” he said.
The conference, organised by the Public Service Commission, is being attended by retirees; active members of the public service; and retirement experts from different sectors with major focus on discussing opportunities to secure the dignity; financial independence and health of civil servants in retirement.
It also focuses on financial planning; real estate planning; and life skills capacitation among other issues.
Government adopted a Defined-Benefit Pension Scheme which provides eligible employees with guaranteed income for life when they retire.
As the largest employer in the land, President Mnangagwa said Government guarantees a specific retirement benefit for each participant based on factors such as the employee’s salary and years of service.
“This means that the Government bears the risk if the returns on the investment do not cover the defined-benefit amount due to a member,” he said.
President Mnangagwa said as Government improved social protection, there was a need to ignore the benefits associated with a Defined Contribution Pension Scheme which does not promise specific benefits at retirement.
“With a Defined Contribution, risk falls on the contributor in that, pension benefits are pegged in relation to returns that are generated from investments. Thus, low investment returns result in low pension payouts. By adopting a Defined-Benefit Pension Scheme, the Government chose to shoulder the risk and guaranteed a specific pension benefit to all eligible beneficiaries,” he said.
Currently, there are 195 000 to 200 000 retirees benefitting from the pensions payouts.
In any given year, 300 to 500 civil servants retire from active service.
President Mnangagwa emphasised that those who join retirement must remain productive and continue to contribute to nation-building.
Guided by the provision of the Constitution and Vision 2030 with respect to social protection, he said the Second Republic’s developmental thrust is premised on championing inclusivity, innovation, and progress.
“To this end, my Government has developed an array of social protection policies aimed at improving the welfare of retirees to secure their dignity in retirement. In addition, my Government aims to empower retirees whose shoulders have borne the weight of nation-building. This resonates with our espoused mantra, “Nyika inovakwa igotongwa igonamatirwa nevene vayo.”
President Mnangagwa said retirement should not be seen as merely the end of active service but as a cornerstone of national progress, embodying the values of the liberation struggle and the dividends of peace and unity.
He hailed the public servants for being at the forefront of implementing policies that drive national development.
Through hard work and sacrifice, President Mnangagwa said workers have shaped a government that serves its people with integrity, diligence and resolve.
The Second Republic, he said, stands firm in its commitment to a Zimbabwe where every citizen young or old, retired or in service—has the opportunity to thrive.
The conference was also attended by the Minister of Public Service, Labour and Social Welfare, July Moyo, Minister of Veterans of the Liberation Struggle Monica Mavhunga, chairman of the Public Service Commission, Dr Vincent Hungwe, Commissioners of the Public Service Commission, Secretary of the Public Service Commission, Mrs Sibusisiwe Zembe among other senior Government officials.
Online Reporter