The National Council For Senior Citizens, St Ann chapter recently hosted an information seminar as part of its efforts to encourage young people to prepare for retirement.

Director of the National Council for Senior Citizens Angella Toyloy said the council has been hosting several such seminars across the island in a bid to  raise awareness of the importance of preparing for retirement.

She pointed out that persons who work in the informal micro sector have proven to be most vulnerable during the time of retirement.

“They are the ones most vulnerable in their older years,” she said, adding that many of these persons are not prepared for retirement and have to be placed on the  Programme of Advancement Through Health and Education (PATH) programme.  

Toyloy said it is important for young people to be aware, so in the future less stress will be placed on the government welfare system.

“We are living longer so we must be prepared…don’t let too late be our cry,” she added.

She also called on the older generation to encourage young people to be prepared for retirement.

“Help us to help the younger generation make retirement more enjoyable for them when they get there,” she said.

Those who attended the seminar, which was held at the Anglican Church Hall in Brown’s Town, St Ann, under the theme ‘Retirement is a process, not an event. Be prepared’ said it was a welcome venture.

Parish organiser Vernice Lynch told those in attendance that they need to be prepared holistically.

“Ageing is a process and everyone goes through that process.  Many die shortly after retirement because mentally they were not prepared,” she said.

The seminar was used to provide attendees with relevant information on retirees in Jamaica.

According to information presented at the seminar, the elderly population has shown the highest growth rate in the last decade with an increased growth in the 75 and above age group.  This is as a result of persons living longer.

Studies have shown that there is variation in the resources affecting the elderly. These include economic, social and financial variations. According to information presented by the council, only one third of elderly persons receive a government pension and many elderly persons, although at the age of retirement, are still working. Some of them are still heads of households due to their age and not financial independence. While the majority of elderly persons own the house they live in or do not pay rent, most of them are still active in the day to day management of their homes while most of them have to support themselves financially.