Early retirement from govt jobs becoming popular

Muscat, Dec 25 - Early retirement appears to be becoming more popular in Oman with scores of people opting for it. For some, it is either due to poor health or downsizing at the workplace. As for the others, they resign from their jobs to take advantage of the attractive retirement packages or lead a peaceful life with the money they have saved in their accounts. For many, it is a windfall as they opt to rejoin the workforce. With their pension money in the bank, they are living with the income from the new job. Said al Hosni is working with a leading money exchange as a human resource manager after relinquishing his job in the Diwan of Royal Court a few years before. “I left the government job when I realised there has been high demand for experienced Omanis in the lucrative HR market in the private sector,” says 49-year-old Said, who earns an attractive four-digit salary at his present job. In Oman, the retirement age is 60 accompanied by attractive pension benefits. “Even though I retired at the age 46, my income has more than doubled with my pension amount continuing to accumulate in the bank,” says Said. According to the Civil Service Employees Pension Fund, more than 1,477 employees — 47 per cent of them below 50 years of age — left their jobs in the first half of 2017. The reasons cited for leaving the jobs are ill-health, family issues, fear of privatisation of government entity or cut in allowances. Hameed al Hassani has a different tale to narrate. It is a success story altogether. “I left my job with the Authority of Electricity and Water to start my business in water testing and supply. Not only that, I have a good earning but I could also provide jobs to a good number of people,” said Al Hassani. The data from the fund reveals that of the total number of people who left their jobs, the highest number of 322 were from the Ministry of Health, followed by the Ministry of Regional Municipalities with 156 and 90 from the Ministry of Education. However, the number of people who resigned from government services this year is down compared with the previous years. While 1,102 people resigned between January and June in 2017, 1,158 resigned during the corresponding period last year. According to the data, the governorate of Muscat tops the list with 21 per cent followed by Al DakhiliyaH with 15 per cent. Those who left the jobs included 1,102 resignations, of which 691 were men and 411 women. Samuel Kutty