Title:
ANALYSIS OF PENSIONS AND POST RETIREMENT REENTRY INTO EMPLOYMENT AMONG THE ELDERLY PUBLIC SERVANTS IN UGANDA

Authors:
Boaz Kibs Muhanguzi ,Uganda

Abstract:
For purposes of policy, empirical studies on post retirement reentry into employment are emerging triggered by the increasing life expectance of people in the world, a condition that imposes financial burden on pension funds. Rising life expectancy extends the years of claiming pension benefits from the government, a burden that would be reduced by reentry for prolonged labor supply. This study analyses the predictors of post retirement reentry into the public service by the elderly workers in Uganda. To achieve this objective, secondary data on retirees (60+) obtained from the Pension Department of the Ministry of Public Service is used in the analysis. Reentry being the dependent variable, is binary measured as either retired at, or continued work post the mandatory age 60; leading to the use of the probit regression technique during the analysis. Results reveal first: apart from the pension benefits; salary, age at entry, and tenure (years served)show high likelihood of reentry into the public service. Second, reentry is more likely among the male, the ‘not married’, and the traditional civil servants compared to their counterpart female, married, and teaching categories. Since the predictors of reentry are linked to pensions (qualifications for claiming retirement benefits), rising the mandatory retirement age commensurate with the rising life expectancy will help keep elderly, experienced, and the stillhealthy workers more productive on job, and the burden on pension funds will likely reduce