Government's early retirement plan a golden opportunity, but tread carefully
Would-be retirees in the public service have a golden opportunity in the National Treasury's offer of early retirement without penalties. It could, however, take some time for this offer, introduced under a new section in the Public Service Act, to be implemented. This gives you, a potential beneficiary of the scheme, plenty of time to plan. It's better to get the right advice ahead of time in order to make informed investment decisions. Failing to plan could mean missing an opportunity to make your money work for you. The opportunity, in our view, serves two major purposes. The first one is the creation of a one-off early exit for current employees wishing to retire from government work if they are between 55 and 60 years old. The best part is that a qualifying participant will be able to retire free of penalties as if they were already 60, the upper end of the age range, where most members are automatically retired with full benefits, unless other arrangements are negotiated inter...
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