Civil Servants told to Plan for Retirement

Civil servants have been urged to plan ahead for retirement, in order to retire with confidence, contentment and in comfort.
“It is important to have a plan for retirement to be mentally, physically and spiritually prepared for retirement,” said Dr. Fay Whitebourne, diabetes and menopause practitioner.
She was speaking on the topic: ‘Planning your future today and retiring with ease’ on November 23 at the National Heroes Circle offices of the Ministry of Finance and Planning. The presentation was part of activities to observe Civil Service Week.
Dr. Whitebourne told the gathering that by midlife people should know themselves and know what activities they need to be involved in to maintain their self-esteem after retirement. “It is the loss of self-esteem that bothers many people about retirement”, she pointed out.
She attributes low self-esteem, to the loss of management or supervisory roles after retirement and persons having difficulty adjusting to the changes that retirement brings. “We need to be involved in activities, which preserve our self-esteem. It is important to avoid boredom, which saps vitality”, the doctor noted.
Civil servants were also encouraged to think more about their health as retirement approached and to stay active and avoid conditions such as obesity, which can lead to diabetes. “I encourage you to exercise three or four times per week to promote healthy heart and bones,” advised Dr. Whitebourne.
Women and men were encouraged to do regular pap smears and prostate exams respectively, after retirement.
Meanwhile, Michael Issacs, Unit Manager for Life Insurance at Scotia Bank Limited, encouraged the civil servants to start saving early towards retirement. “The day we receive our first pay cheque ought to be when we begin the process to start retirement planning,” he said.
Mr. Issacs told the gathering, that because the bulk of the financial contribution towards retirement would come from individual savings, it was important to have a positive net worth. He also advised them, to make regular assessments of the money they earn, the amount they spend and the amount saved in order to be on track in saving towards retirement.
The audience was further encouraged not to let their expenditures take away from their retirement planning. “If we are going to make major purchases, we have to ensure that this purchase is a necessity and will not in any way interrupt the planning process for retirement”, he pointed out.
The Scotia Mint life insurance policy was presented and discussed with the audience.
Civil service week celebrations continued yesterday (Nov. 24) with the long service awards ceremony at King’s House.