Is it a waste for a 60 year old director or principal to retire?

Directors and principals who reach the age of 60 can retire from leadership positions but continue to work as experts and receive expert salaries.

Mr. Bui Sy Loi, Vice Chairman of the National Assembly's Committee on Social Affairs, proposed this in response to concerns that extending the retirement age would cause managers to worry about keeping their seats.

Raising the retirement age must take into account young unemployed workers.

Should calculate retirement age increase by each field

At the discussion on increasing the retirement age organized by the Government Portal yesterday, Deputy Minister of Labor, Invalids and Social Affairs Pham Minh Huan said: Increasing the retirement age must be raised at this time, and if the Government submits it to the National Assembly in 2017, it will not be applied until 2020.

Acknowledging that increasing the retirement age is necessary, Mr. Bui Sy Loi said that it is necessary to calculate the balance as well as determine the timing, subjects of adjustment and how to increase appropriately.

In addition to the country's socio-economic conditions and supply-demand pressures, increasing the retirement age must also be based on health conditions.

According to Deputy Minister Huan, the general plan will propose to increase the retirement age for men to 62, and for women to 58 (or 60). Heavy, toxic, and direct labor occupations will remain the same.

Sharing the same view, not yet discussing increasing the retirement age for heavy, toxic laborers and direct laborers, and laborers with reduced working capacity, Mr. Bui Sy Loi emphasized that the retirement age should only be increased in industries with improved working conditions and a better working environment to ensure the health of workers.

"The plan to increase the retirement age must overcome the brain drain, waste of high-quality resources and labor resources with technical expertise," he said.

Agreeing with increasing the retirement age, Mr. Loi is concerned that graduates do not have jobs; this is also an issue that must be carefully considered.

Increase retirement age should stop being a manager

According to Mr. Loi, when the Government submits to the National Assembly to adjust the retirement age, it is necessary to separate career age from age, creating conditions for workers to have more time to pay social insurance and increase their benefits upon retirement.

“I am 60 years old and retired, but my health is still good. I will continue working until I am 65. I need to be given the opportunity to pay social insurance for another 5 years so that when I retire, I will not have to rely on my children.

Or in reality, singers and circus performers who are 40 years old have retired, but they have not retired completely and still work until they are 60, so the policy should also create conditions for them to participate in social insurance," Mr. Loi proposed.

For management staff, Mr. Loi said that the calculation of increasing retirement age must be in the direction of extending working time but leaving leadership positions.

Directors and principals, if capable, can retire from leadership positions at the age of 60 but continue to work as experts and receive senior expert salaries.

According to Vietnamnet