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PNG Public Servants not prepared for Retirement : Koim

PNG Internal Revenue Commission Acting Commissioner General Sam Koim says a lot of people in the public service are not prepared well for retirement.

Mr Koim says what is more frustrating is that Papua New Guineans who have given the prime of their lives to public service are left to fend for themselves for the balance of their lives outside public service.

For many of them, all they know is earning a living; not making a living. So when they leave their paid job, they have difficulty making a sustainable living, Koim said.

On the other hand many people lack the financial literacy required to make sound decisions about their retirement savings and investments.

Koim said this during the awarding of IRC members who are nearing retirement underwent a Personal Viability workshop to prepare them with life and management skills after public service.

The workshop has acquired some useful tools from the training that will help them utilize their savings and superannuation to sustain them.

It will also prepare them to embrace the economic and social realities of tomorrow, Koim said.

The 22 IRC members were presented certificates for their participation.

FM100/PNG Today

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