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10 December 2021 | Story Lacea Loader

The Council of the University of the Free State (UFS) approved the retirement age of all staff members to 65 this week. 

“The current retirement age for staff members of the UFS is 65 years for those appointed prior to 1 June 1998, and 60 years for those appointed after 1 June 1998. The Council’s decision to amend the retirement age to 65 comes after an extensive benchmarking process involving the university’s two labour unions, NEHAWU and UVPERSU, which requested that the retirement age of all staff members be adjusted to 65,” said Prof Francis Petesen, UFS Rector and Vice-Chancellor.

 This amendment brings the university in line with other universities and will assist in overcoming a negative impact on the recruitment and attraction of high-calibre academic and specialist staff.

 Parallel to the amendment of the retirement age in the Conditions of Services, the university is also adapting the allocation of vacation leave. “We are currently facing a challenge in terms of the provision of the staff leave liability, which has a major financial implication for the UFS. In consultation with stakeholder unions the accumulation of vacation leave has been adjusted to a maximum of five days per year,” said Prof Petersen.

 The new retirement age to 65 and the adjusted accumulated vacation leave days will be affected from 1 January 2022. Staff who are set to retire on 31 December 2021 may opt to continue to the age 65. This amendment will not apply to staff that may have already retired.

Adjusted vacation as from 1 January 2022:

Academic staff:

Current number of vacation days: 42 
Approved Leave Days
Number of vacation days: 30
Additional research leave days: 12 (non-cumulative and expires at the end of each calendar year)

Support staff:

Deputy Director and higher levels
Peromnes Level: 1 – 6
Current number of leave vacation days: 36
Approved number of vacation days: 30

Assistant Director to Officer
Peromnes Level: 7 – 14
Current number of leave vacation days: 30 - 28
Approved number of vacation days: 28

Service Workers 
Peromnes Level: 15 - 18
Current number of leave vacation days: 24
Approved number of vacation days: 24

 

News Archive

Alumni in the financial sector: money talks!
2016-12-26

Description: Marina Marinkov Tags: Marina Marinkov 

Marina Marinkov, Economist at the
International Monetary

Description: Evangelina Nailenge Tags: Evangelina Nailenge

Evangelina Nailenge, General
Manager: Investment Institutions at
Namibia Financial Supervisory Authority.

Description: Vuyelwa Vumendlini Tags: Vuyelwa Vumendlini

Vuyelwa Vumendlini, Chief Director:
Global and Emerging Markets, National
Treasury.

Description: Meshach Aziakpono Tags: Meshach Aziakpono

Prof Meshach Azaikpono, Professor of
Development Finance, University of
Stellenbosch.

Description: Anton Nicolaisen Tags: Anton Nicolaisen

Anton Nicolaisen, Provincial Head for
the Free State Province, Standard Bank.

Where are they now?

On good days, most of us battle to set our personal finances straight,  let alone be responsible for a large enterprise. So we are extremely proud of the well-trained and talented Kovsie alumni who fill prominent shoes. Operating mostly away from the public eye, they make decisions to improve the economy on various levels. It is heartening to know that the UFS contributes to financial matters and training all across the globe.  

Marina Marinkov


Courses: BCom (Economics), BCom Hons (Money and Banking), and MCom (Economics) (2000-2004)
Current position:
Economist at the International Monetary Fund
Biggest career obstacle: I once worked for an organisation with poor leadership which negatively affected employee morale and job performance. It still proved to be a great learning experience, though. Bad bosses can teach us powerful lessons.
Best career advice:
Stop doubting yourself, work hard and be humble.
Fondest memory of UFS: Time spent on campus with my classmates, whether studying for finals at the library or just catching up between classes. The UFS was also my first employer and I have plenty of wonderful memories with colleagues at the Department of Economics.


Evangelina Nailenge

Courses: BCom Hons (Money and Banking) MCom (Money and Banking) (2005-2006)
Current position: General Manager: Investment Institutions at Namibia Financial Supervisory Authority
Biggest career obstacle: At times, being one of the youngest requires you to work twice as hard to earn your voice and cue at the decision-making table.
Best career advice: “Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom.” Eccl. 9:10
Fondest memory of UFS: Walking around the campus. Its well-manicured lawns and gardens had a calming effect in the midst of academic pressures. I will forever treasure the moment I first saw my name engraved in the walls of FGG, as the best postgraduate student for both 2005 and 2006.

Vuyelwa Vumendlini

Course: BCom Hons (Economics) (1996-1999)
Current position: Chief Director: Global and Emerging Markets, National Treasury
Biggest career obstacle: Doubting your own capabilities.
Best career advice: The sky is the limit, go for it all out, but most importantly, do something that you are passionate about it. It makes your work much more meaningful.
Fondest memory of UFS: Working as a tutor in my honours year and being able to help other students. I also enjoyed hanging out at Mooimeisiesfontein on Saturday afternoons.


Prof Meshach Azaikpono

Course: PhD in Economics (2004-2008) “The Depth of Financial Integration and its Effects on Financial Development and Economic Performance of the Southern African Customs Union Countries”. He received the Founders’ Medal for the best PhD dissertation in Economics in South Africa.
Current position: Professor of Development Finance, University of Stellenbosch.
Biggest career obstacle: I was fortunate to never have experienced a major career obstacle.
Best career advice: Pursue and focus on your passion.
Fondest memory of UFS: Being a part-time student, I had very limited interaction with the broader university environment. But I really enjoyed the support provided by the library staff and the staff from the Department of Economics. It was always like coming to see friends.


Anton Nicolaisen

Course: BEcon (1986-1989), MBA (1999-2003)
Current position: Provincial Head for the Free State Province, Standard Bank
Biggest career obstacle: Earlier in my career, I fell into a comfort zone and had to acquire the willingness to change.
Best career advice: Continuously challenge yourself to be the best possible person you can be, and run your own race. Learn through difficult times, and be open to change.
Fondest memory of UFS: Although I was not the biggest academic, I enjoyed interacting with lecturers … their stories and unique characteristics. Back then, I interpreted some as funny or awkward, only later did I realise how much I had learned from them. And of course, I’ll always remember the team spirit at athletics meetings and intervarsity.




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