TREASURY DENIES REVISED RETIREMENT AGE

Rumours have been doing the rounds that the South African government is implementing pension reforms. One of these changes would be to increase the retirement age to 65.

The rumour not only made it to social media, but some websites also reported on it.

The article, published on Zerode.co.za, said that the government has confirmed new phased retirement options and that older workers will be able to draw partial pensions while continuing part-time employment.

This led to the Department of National Treasury issuing a statement slamming the rumour.

“There is no standard retirement age that is set by the government in South Africa. Employees in formal employment… have a retirement age that is determined by the employer and the relevant retirement fund, which is not prescribed by the government.”

The Government Employees Pension Fund (GEPF) still permits retirement from the age of 60 for public servants.

Furthermore, the Treasury also confirmed that the rumours about the changes to the old age grant are also false. It remains available from the age of 60 for both men and women.

It’s believed the rumours began when a fake version of the Public Service Amendment Regulations was circulated and then distributed on Facebook.

The fake document falsely claimed that the retirement age for government employees was to be increased to 70.

No official source could be linked to the false document.

Image credit: IOL