The Minister of Finance, Ericah Shafudah, officially launched the Retirewise booklet in Windhoek.
An initiative by the Financial Literacy Initiative aims to enhance financial literacy and promote long-term financial well-being for all retirees.
The Retirewise booklet is more than just a publication.
It is a guiding tool for empowerment, designed to help Namibians make sustainable, well-informed decisions as they navigate the various stages of life before, during, and after retirement.
"The Government of the Republic of Namibia recognised that achieving a unified retirement is not solely an individual task. It is a national obligation; preparing for retirement encompasses more than just financial aspects. It also involves being emotionally ready for this new and exciting phase of life," said Shafudah.
The Finance Minister noted that individuals who are financially secure and emotionally prepared for after-retirement life have a higher probability of living mentally healthier lives.
"It is crucial to acknowledge that the success of the financial literacy initiative relies on teamwork. It benefits from the steadfast support of our institutional partners and the government through the Ministry of Finance, which provides resources in various forms."
Shafudah emphasised that the government is actively strengthening retirement planning through policies that enhance the ability of citizens to save.
Speaking at the launch, Secretariat Manager for the Financial Literacy Initiative, Joseph Ihemba, said every person should start planning for retirement, and that is the reason this booklet was created.
"In the meantime, we have it wrong, thinking that I must wait until I'm fifty or fifty-five before I can start planning for my retirement. Which is not necessarily supposed to be the case; the moment you join, you must already have a plan."
The Government Institutions Pension Fund's (GIPF) General Manager for Marketing and Stakeholders, Edwin Tjiramba, explained the role played by the fund for its members who are retired.
"The fund is deeply partnered with constituency offices in our various regions. The plan is to unlock 60 health devices at constituency offices, which are nearby constituencies where our pensioners can now go to verify. So far, we have successfully rolled out these devices to 40, and as we are currently speaking, we are left with about 20 or 18."
The booklet was launched under the theme "Securing your golden years: A roadmap to a dignified retirement."