Namibian Retirement Sector Affected by AIDS

November 2 - A study conducted by several interest groups has revealed that HIV and AIDS have had a serious impact on Namibia's retirement fund sector.

Metropolitan South Africa, in conjunction with the Bank of Namibia and the World Bank, showed that the retirement sector has been hit by a 23.6% prevalence rate in AIDS this year.

According to the Program Director of Metropolitan South Africa, Nathea Nicolay: "The prevalence rate of HIV and AIDS in the retirement sector will increase slightly to 24% in 2011 with the most affected in this sector being the 30 - 39 year age group."

The study investigated how AID affected long term pension schemes and medical schemes in Namibia.

Those affected with the disease are generally denied access to pension schemes in Namibia.

It was also revealed in the study that a staggering one quarter of Nambia's banking public are affected with AIDS.

A worrying trend, according to Nicolay, is that those who are affected with AIDS have their insurance policies declined by long term insurance companies in the country.

To make matters worse, those with AIDS usually come from the lower socio-economic sectors of Namibian society and have trouble financing their insurance policies.

Those who commissioned the study called on the government to commit itself to fighting AIDS.

AIDS accounts for at least 50% of deaths in individuals aged 15 to 49 in Namibia. Women account for most of these deaths.

A number of factors affect the country's ability to fight AIDS at an efficient level, including the sparse population scattered over a wide area of land, lack of skilled medical workers and shortage of HIV testing and counseling services.