Business

Course to prepare retirees introduced

The Institute of Management and Entrepreneurship Development (IMED) has developed a course that seeks to prop up workers for more productive and competent life after formal employment.

The course aims to reversing a sordid reality of fund misuse amongst retirees due to lack of knowledge on business or financial management. “Retirement planning is an important task of deciding when to retire and how you will live once you retire,” Dr Donath Olomi said on Thursday.

Teaming up with experts from leading universities and training institutions in and outside Tanzania, Dr Olomi developed the course at IMED seeking to ready retirees for more productive and competent life after formal employment. For a long time, scores of public and private sector employees have been left in limbo after retirement.

The revised course will be launched next Monday at Kingsway Hotel Morogoro titled, “Entrepreneurship, Financial Literacy and Retirement Planning” “Retirement is the highest form of graduation, whereby one leaves formal employment with a wealth of expertise and experience which can be deployed to support future life.

The longer, prior to retirement, you take this course the more you will benefit,” said Dr Olomi. Dr Olomi also assured that the course will be delivered by highly experienced facilitators using experiential methods. “Participants are guided to recognize opportunities and challenges of retirement; their talents and other tangible and intangible assets and liabilities; alternative post-retirement “careers”; to choose when to retire and to continuously build their asset base, streams of income and fulfilling lives after retirement.

“They are also exposed to good practices in starting and running a business, personal finance and health management; expected pension benefits and investment schemes tailored for retirees. They leave with self awareness, a Retirement Vision and look
forward to their exit from employment,” he said.

Morogoro Regional Administrative Secretary, Mrs. Mgeni Baruany recently commended IMED saying that the training is a very important way of helping long time employees switch to self directed lives. On his part,Morogoro Tanesco Regional Manager, Mr Deaogratius Ndamugoba, also commended IMED for running the course.