February 28 deadline for applications under gov't early retirement programme

The new deadline for the Government’s Special Early Retirement Programme expires in another two days.

The early retirement programme is a voluntary separation initiative that allows public-sector employees, aged 50-59, to stop working through an incentivised package under the non-contributory government pension scheme.

Deputy Financial Secretary at the Ministry of Finance and the Public Service, Wayne Jones told the JIS that support will be provided to successful applicants in the form of financial guidance and life counselling to assist with transitioning into retirement

The SERP, which is being undertaken through the Ministry of Finance and the Public Service, was opened on January 2, 2018.

Interested applicants must have been vested with 10 years’ service, with at least one permanent appointment in a pensionable post during this period.

Eligible persons may apply for the programme through their Human Resources Department.

Successful applicants will receive an incentive of two weeks’ salary for each year of service up to a maximum of one year’s salary, as well as pay for vacation leave not taken.