Labour expert Austin Gamey has warned against a proposal to raise Ghana’s retirement age from 60 to 65 years, arguing that such a move could worsen youth unemployment and block job progression.
His remarks follow a statement by Christopher Boadi-Mensah, CEO of the National Pensions Regulatory Authority (NPRA), who suggested the change during a May 15 briefing to Parliament’s Employment, Labour Relations and Pensions Committee.
Boadi-Mensah stated that increasing the retirement age could reduce pressure on pension funds and allow experienced professionals to continue contributing to national development. He also said it might curb age falsification in public service.
However, Gamey, a former government negotiator and contributor to Ghana’s three-tier pension system, disagreed.
“I don’t think the push to raise the retirement age is appropriate,” he said. “It will stall promotions and delay hiring for new positions, creating a five-year bottleneck in career advancement.”
With youth unemployment already high, Gamey stressed that extending the working years of older staff could restrict job opportunities for young graduates and professionals.
“We have massive youth unemployment. Keeping people past retirement age puts a strain on employers and slows down career mobility,” he added.
Instead of raising the age cap, Gamey called for better investment strategies for pension fund managers, suggesting that improved returns would better serve retirees without sacrificing jobs for the youth.
“Fund managers must invest in stronger portfolios so that retirees benefit from higher returns,” he said.
This debate highlights a critical policy challenge: balancing pension sustainability with the urgent need to address Ghana’s youth unemployment crisis.
