DOHA: The GCC states are looking at the possibility to conduct a study to see if the retirement age for government jobs can be raised from 60 to 68 years for citizens due to increasing life expectancy in the bloc.
Saudi Arabia-based business website aliqt.com has reported quoting a senior Omani official that since the average life expectancy in the GCC is 80, the retirement age for public sector employments needs to be raised to 68.
More so because the birth and death rates have been falling in the region and although a larger ratio of the population consists of youth, the situation would likely change in future due to low fertility and mortality rates.
The portal quoted Saleh bin Nasser Al Uraimi, Director-General, Social Insurance, as saying that GCC nationals want to retire early while their governments are considering conducting studies to see if the retirement age can be raised.
According to him, more GCC citizens in the age group 40-45 retire than those in the age group 60-62.
Citing an example, he said the average life expectancy in Oman was 74 years, while that for women 76. The figure may increase due to good eating habits and advancing medical facilities, said Al Uraimi.
There are more youth in the GCC but the situation may change and become like that in Europe due to fast declining fertility and mortality rates, he added. The Peninsula
