Would- be retirees undergo financial literacy training

Ten would-be retirees from the PNG Correctional Services in Madang Province have completed a week-long training in Financial Literacy and Digital Marketing.

They were amongst other senior public servants in the province to have completed the training in preparation for their exit from the public service.

The training was conducted by the Somare Institute of Leadership and Good Governance [SILAG].

CS Commander at Beon, Superintendent Jackson Gubag applauded SILAG for the initiative, stating it was an important training.

Amongst his officers, Superintendent Gubag said, "Seven of them already have their names on the retirement list. They are officers who have served CS for more than 40 years and have passed the retirement age of 65".

The oldest officer is Anton Tom, a local from Madang who has been serving the CS since 1975.

Gubag regretted that the training was a bit too late for them, but noted that it was still beneficial as it prepared them well for when they would receive their retirement benefits.

He said most public servants, including CS officers; do not save money from their fortnightly salaries for the rainy days and that the financial literacy training is very important.

"Financial Literacy is a must for Papua New Guinea if the government is serious about improving our economy and becoming a wealthy nation. A lot of Papua New Guineans still lack the saving culture knowledge, and I think it should be included in our school curriculum, at least for grade 12 students, so that when they come out of school and start working, they begin saving money at the earliest and not when they reach their retirement age or exit the working life", Superintendent Gubag stressed.

Commander Gubag plans to bring similar trainings to Beon CS so all his officers can have the opportunity to attend.

He will be liaising with SILAG on this possibility.