Some 660 public servants now eligible for retirement- SFC Report
During the SFC meetings with the Human Resources Department, it was noted that there is a very high number of officers retiring.
360 officers reach 25 years of service
“There are 360 officers with 25 years or more service, if they opted to have a mass exodus, the government will be severely impacted, and these are officers who have significant experience,” Director in the Department of Human Resources, Mrs Michelle Donovan-Stevens stated.
It was noted that while the numbers may seem high, every year they are increasing between retirement and a portion of officers who are opting to resign, “We are gaining as well as losing talent so do not let the numbers distract us from where we really are.”
According to the Director, the breakdown of the number is that there are some 360 officers with 25 years or more of service.
She also indicated that there are 300 with 20-24 years of service who are on the brink of crossing over, “So there will be 660 officers eligible to retire if they so wish to,” Donovan-Stevens added.
Public service grew by 32 staff from 2017 to date
In total, it was revealed that there are 2693 total employees in the public service as of October 31, 2021, and that the employee population since 2017 to date has grown to 32 additional staff from 2661 to 2693.
“Even from 2020, the staff count has grown up to 224 additional staff; but members are stating that most departments are short-staffed,” Minister for Natural Resources, Labour and Immigration, Hon Vincent O. Wheatley (R9) noted.
It was indicated that the increased numbers came from the recent hire of a number of educators and some police; including that some officers may be on short-term assignments so the numbers are not steady and would fluctuate during the year.
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17 Responses to “Some 660 public servants now eligible for retirement- SFC Report”
Look the labour commissioner - replace her for one. Hospital only taking who they family. you saying your young people can't get jobs move up the people already in the system and bring the young ones in and train them. Ayo just talking nonsense. Get a separate body to do employment. not the people who in charge of these places. Nepotism abounds in these places and this should not be.
People are now living longer therefore in a small place like this we must push the retirement age up and present day civil service must contribute to their pension, gone are the days when government coffers will do everything.
Learn from the country Greece the once darling of EUROPE, many problems cause its economy to collapse, one main problem was the civil service and retirement packages similar comparison to BVI. Our present day leaders must change course and stop nonsense from happening, just for the sake of a vote.
Continuously paying retired employees going soon broke the government because they are getting funds from a plan they never contributed to.
- Bermuda 65 years of age
- Turks & Caicos 60 years of age
- BVI 25 years services..we are the best !
Start working for government right out of high school.
Moreover, IMO, it will take extraordinary circumstances for minimally-eligible public sector employees to make a run for ‘retirement border’ in mass. Government, by necessity, is a major employer(~25-30% of workforce). Typically, the force is dynamic; employee will come and go with most staying on to qualify for retirement. As such, effective succession planning is critical to maintaining the functionality of the public sector; the public sector should not skip a beat with a small, typical movement of employees. It should be anticipated and managed.
Further, the elephant in the room is the absence of a solid employee retirement system. Employee retirement compensation is an unfunded liability. During the NDP administration(s), the unfunded liability was approaching $300M. Retirees are compensated from the annual Operations and Maintenance budget. That should be a concerning situation. For example, during an economic downturn and revenue shortfall, what guarantee and priority will retiree compensation be in the budget. Looking forward, a retiree compensation sinking fund should be established. At roll out, government should ignite the fund with some seed money/working capital. Subsequently, both employees and government will contribute to the fund which will be administered by a board.
Which.... does not include the Statutory Bodies... And how does Patriotism Fit into the Equation.. Leaving High School at 18 Years and Working for Government for Only 25 Years.. You are now only 43 Years ...Old and just in the Prime of Life... There is an Miscalculation On the part of Those who..Creates Labour Force Protocols....And then balking about Too Many Expats..and the
Greenery Vs the Caribbean Dollar...BTW...