July 23, Colombo (LNW): Dr. Ranga Jayakody, an award-winning marketer and philanthropist, has urged the government to consider reducing the public sector retirement age to enhance service efficiency, cut state costs, and manage disruptive strike actions.
Addressing the media, Dr. Jayakody highlighted that such a move would alleviate youth unemployment and counteract the ‘Brain Drain’.
He suggested that retirees could pursue other employment or business ventures, thereby benefiting both their personal finances and the national economy.
“Efficiency tends to decline past the age of 50, whether in government or private sectors,” Dr. Jayakody noted.
“We need to create opportunities for younger generations to take over these roles, ensuring robust and energetic public service delivery.”
He stressed that the infusion of young talent and enthusiasm would propel the country forward with innovative strategies and knowledge suited to the modern world.
Reducing the retirement age would also encourage young professionals to stay in the country, addressing the ‘Brain Drain’.
Dr. Jayakody also pointed out the adverse impact of public service strikes on daily life, arguing that many strikes stem from demands for higher wages or better pension benefits.
He acknowledged that while public sector salaries are generally lower than those in the private sector, the lure of a lifelong pension makes government jobs attractive.
He criticised the current retirement age of 60, stating it hampers national development and that trade unions often defend inefficiency, burdening the general public.
Jayakody proposed legal reforms to mandate retirement at age 50, which he believes would improve public sector efficiency, reduce job congestion, and better manage strike actions.
“We need to approach this issue with a calm and rational mindset,” he concluded.
