Elderly Workforce Challenges and Opportunities in Barbados
The Barbados Employers Confederation (BEC) has emphasized the importance of a collaborative approach between government and employers in addressing the challenges and opportunities presented by an aging workforce in Barbados.
Aging Workforce Policy
In August, Elder Affairs Minister Kirk Humphrey laid the National Policy on Ageing for 2023-2028 before Parliament, highlighting the urgent need to address the country’s swiftly aging population. Labour Minister Colin Jordan warned that his ministry could take legal action against employers who continue exploitative practices, calling on employers to treat older workers with dignity and humanity.
Retirement and Pension
The policy aims to enable and promote healthy and active aging as a way of life for all Barbadians, while ensuring the fundamental rights and freedoms of older persons are fully recognized and vigorously defended. Labour Minister Colin Jordan criticized employers who force retirement before the pensionable age of 67, urging employers to consider the humanity of their workers.
BEC’s Perspective
However, the BEC said that the Employment Rights Tribunal’s quick overview of the legislation in Barbados relating to retirement makes it clear that there is no one-size-fits-all structure for persons in the public sector, and certainly, none governing the private sector. The BEC said that not all roles allow individuals to work effectively until age 65, and working until 67 may not be possible for all employees.
Flexibility in Retirement
The BEC supports the notion of flexibility in retirement and encourages facilitating persons gradually transitioning from complete work into retirement. They propose that the revised legislation consider enabling situations where older workers can receive partial pension income and continue to participate in the workforce part-time.
Conclusion
The aging workforce presents both challenges and opportunities for Barbados. A collaborative approach between government and employers is essential in developing effective policies that support an aging workforce while fostering economic growth. The BEC’s proposals for flexibility in retirement and facilitating older workers’ transition into retirement could provide a balanced solution that respects the needs of both employees and employers.
FAQs
- What is the Barbados Employers Confederation’s stance on the aging workforce?
The BEC believes that a collaborative approach between government and employers is essential in addressing the challenges and opportunities presented by an aging workforce in Barbados. - What is the National Policy on Ageing for 2023-2028?
The policy aims to enable and promote healthy and active aging as a way of life for all Barbadians, while ensuring the fundamental rights and freedoms of older persons are fully recognized and vigorously defended. - What is the BEC’s proposal for flexibility in retirement?
The BEC proposes enabling situations where older workers can receive partial pension income and continue to participate in the workforce part-time, reducing pension poverty and assisting with workforce stability in aging populations.