In a workaholic society like Hong Kong, a lifetime of toil lies ahead for most employees. While some fortunate workers may be able to save enough to opt for early retirement - perhaps as early as in their 40s - the majority have to work until mandatory retirement, generally at the age of 60 or 65. But, with improved health and longevity, an increasing number of older workers would prefer to remain in their jobs rather than putting their feet up.
Professors and staff associations at four leading universities are renewing their push to raise the retirement age by five years to 65, a move which will put them on par with the other universities. They say the 'ageist' policy of forced retirement at 60 should be relaxed, in particular due to the need of more than 1,000 professors to cope with the increased student numbers brought on by the new four-year curriculum next year.
Their case is a valid one. Universities are undoubtedly the treasury of mankind's knowledge and the powerhouse for research and development. But the mission cannot be fulfilled without talent. Academics build up a wealth of teaching and research experience through years and sometimes decades of dedicated service. It would seem a waste of precious talent if professors are forced to retire.
Compulsory retirement is arguably a form of age discrimination which is not covered by the law at present. But it makes no sense that while employers are often encouraged not to discriminate on the grounds of age when recruiting, all employees are required to retire at a specific age, regardless of their ability and health. After all, age is just a number. If we truly believe in the best job for the best person, there is no reason why any able worker should not be allowed to stay beyond the age of 60 as long as he or she is still physically fit to work.
The timing of retirement or, indeed, the need for retirement at all are pressing questions for the community as a whole. At present, the various retirement and welfare arrangements appear to be inconsistent. While the normal retirement age in the private sector is generally 60 or 65, most civil servants cannot stay beyond 60. But retirees are not considered to be senior citizens officially until the age of 65, when they are entitled to a senior citizen's card that gives them transport fare concessions and other welfare benefits. They are also not allowed to get back the money they put into Mandatory Provident Fund scheme until they are 65.
Inevitably any move to extend retirement age would have substantial financial implications on pension and welfare payments. A slowdown in the top echelon of the social ladder would also fuel worries about restricted promotion and job opportunities for youngsters. But these concerns should not deter the community from engaging in vigorous debates on the right way forward.