Togo to raise retirement age
The Togolese government plans to raise the retirement age from 55 to 60. During the council of ministers meeting held on Wednesday, a consensus was reached on raising the retirement age, pending discussions with trade union organisations.
According to the figures provided by the government, the current stipulation of 30 years of service or 55 years of age will send into retirement 50% of public servants (16,000 staffers) by the year 2010.The proposed increase is also motivated by difficulties and the imbalance being experienced with the retirement fund and the national social security fund, Minister of Employment, Labour and Public Service, Katari Foli-Basi, said.
For the past 10 years, Togo has faced difficulties in paying pension benefits.