PRESIDENT Lungu has assented to a proposed law that provides for optional retirement ages of 55, 60 and 65, and a government gazette to this effect will be issued soon, Minister of Labour Fackson Shamenda has said.
Mr Shamenda, speaking at the Zambia Institute of Human Resource Management (ZIHRM) workshop in Ndola yesterday, said the new law allows for retirement at the ages of 55, 60 and 65
“The President has assented to the new retirement age; it will soon come out in the government gazette and become law. But it is important to clarify that there are accrued rights,” he said.
He said 60 will be the normal retirement age, while people could also opt for early retirement at 55, and others could go up to age 65.
“But again, there are accrued rights for those of you who are in employment and were on contract before the law. You can jump out now when you reach the (retirement) age, you will not be compelled to stay,” he said.
Mr Shamenda said there will be no accrued retirement rights for people who will be employed after the law is enacted.
Meanwhile, Government has finalised the amendment of the Zambia Institute of Human Resource Management Act number 11 of 1997.
Mr Shamenda said a bill will soon be presented to Cabinet and Parliament for approval.
“Before the end of term of my office, all pieces of legislation shall see the light of day… before we go to the elections,” he said.
The amendment act seeks to enhance the regulation of human resource practice, including the registration and licencing of practitioners.