HR Insight: You Have Turned 60. What Happens Next?
By Uncategorized

Turning 60 is a major milestone in an employee’s career. In Ghana, it is generally the compulsory retirement age under the Labour Act, 2003 (Act 651), subject to applicable exceptions.

But retirement should not come as a surprise to either the employee or the employer.

What should the employee do?

  • Check your pension contributions: Confirm your SSNIT contribution history and eligibility.
  • Prepare your documents: Contact SSNIT and your second-tier pension trustee to understand the benefits available to you.
  • Plan your finances: Review your expenses, savings and expected retirement income.
  • Clarify your exit benefits: Confirm outstanding salary, accrued leave and any other amounts due under your employment terms.

What should HR do?

HR should plan retirement discussions early, communicate the process clearly, prepare the necessary documentation and coordinate with the relevant pension providers.

Under SSNIT’s published guidance, a full old-age pension generally requires reaching age 60 and making at least 180 months (15 years) of contributions. Individual entitlements depend on the applicable pension scheme and contribution record.

The key lesson: Retirement should be a planned transition, not an unexpected exit.

Discussion: Are employees in your organisation adequately prepared for retirement before they turn 60?

Sources: Ghana Labour Act, 2003 (Act 651) | SSNIT pension FAQs

This article is for general information and is not legal or financial advice.