IPMM urges workers to plan for retirement

Institute of People Management Malawi (IPMM), a grouping of human resource professionals, has urged workers to plan for their retirement to avoid becoming destitute in future.

Technical, Entrepreneurial, Vocational Education and Training Authority (Teveta) director of finance Elwin Sichiola said this on Friday in Blantyre during a continuous professional development workshop IPMM organised for human resource practitioners.

In a presentation which dwelt on preparing employees for retirement and financial management, he said employees should start saving as soon as they start working.

“IPMM urges employees to plan for retirement to make sure that they address certain things before they reach 40 years.

“Most of the things that employees need to sustain in life after retirement require long-term planning from the day they start working,” he said.

Sichiola also called on employees to live within their means.

“Sometimes we are wasteful because we save after spending. Let’s also avoid taking credit for consumption,” he said.

One of the 43 participants, Richard Kachere, who is Farmers World head of human resource department, described the workshop as relevant to their daily operations.

“Some of the issues are not openly discussed yet they are critical to our work,” he said.

National Council of Higher Education (Nche) director of human resource Emmanuel Chinovi said such workshops are important as they help them to share ideas on how to improve on human resource management.

IPMM acting executive director Jallison Chaguluka said the training was successful in view of the response from the participants.