Good to be in the civil service
A FRIEND of mine couldn’t wait to move on to greener pastures. He left his government job where he’d served for more than 20 years in order to start a business jointly with his close friend.
The business was fine in the beginning but it went downhill the following year due to keen competition. Differences and misunderstandings ensued soon after between these two good friends and the business bit the dust within two years of its inception. In the end, my friend not only lost all his hard-earned savings but also a valued friendship.
With his long working experience with the Government, he soon got a job in a private company where he worked and retired at the age of 60. But he continued to work in a management office and is still doing so even after he turned 65 as, according to him, financially he has no choice but to carry on working because he has no pension and doesn’t have much in his EPF.
My friend till this very day is still very bitter about his rash decision to leave the civil service. “Just because I took a wrong turn back then, I ended up in the wrong place today. Hence, I’m still working when other pensioners are living comfortably on a fat pension. Ironically, the pay I’m getting now is no better than the pension I was supposed to receive had I stayed on in the service,” he laments.
He also advises people who have put in a good number of years in public service to think twice about their decision to resign, or they must at least wait for the optional retirement age because the outside world isn’t as rosy as they imagine; it is bristling with problems and challenges.
Although those who work in the private sector do not get to enjoy pension when they retire, they have their EPF savings. So far, the EPF has never failed to yield good returns by way of dividends. But they also need to plan their retirement and to save enough for their old age. And to prevent their savings from being used up sooner than expected, they mustn’t spend unwisely especially due to the ever escalating cost of living and rise in life expectancy as well.
All in all, for the working people, pension seems to be the safest lifelong protection for retirees and their spouses even if they were to live to a ripe old age.
Some people say our Government is the defender and protector of public servants because, come rain or shine, their welfare and interests have always been well taken care of. And, I must say, rightly so.
Under Budget 2018, government servants will be given various incentives and assistance which, among others, include the RM1,500 special payment and time-based promotions. Government retirees like myself should be equally delighted because we will also get RM750 and continue enjoying the 2% annual increments to our pensions even though we’re no longer working. My poor old friend and many others won’t get anything.
It’s indeed heartening that our Government is mindful of the plight of senior citizens as their monthly allowance will be increased from RM300 to RM350 while for government retirees, RM1,000 is their new minimum pension effective 2018.
However, our Government should have also considered the predicament of senior citizens who are receiving pencen penakat as a result of the death of their spouses. Many of them are already in their late 60s or 70s but their pension is rarely revised and is therefore sorely inadequate. Surely our caring Government could also spare a thought for these less fortunate senior citizens.
STEVEN CHAI Penang