Retirement age 62 for central government employees – Pros and Cons
For the past one week there is a news floating around about increasing retirement age of central government employees. When we contacted the higher officials, they remained tight lipped about this news. But Sources close to the Ministry of Personnel told that though the government denied this proposal officially, a study on financial implication of increasing retirement age of central government employees to 62 has been taken to decide over this issue. Many central government employees news websites are analyzing this issue on their own way. The bottom line of the content given below is taken from one of those sites.
Impact of increasing retirement age from 60 to 62
Medias and blogging sites abound with news that the cabinet would announce its decision regarding the retirement age. But it has not been finalized yet.
In India the retirement ages of most of the state government employees is range from 58 to 60 years. This is very low when it compared to government employees of other countries.
Let us see the pros and cons of increasing the retirement age of central government employees..
1. If the 7th pay commission is implemented in the year 2016, the central government employees those who are retiring from service in the year of 2014 to 2016 would be benefitted by extension of their service further two more years .
2. Economically the employees would be in better position due to this rise of the age of superannuation
3. The pensionary benefits would also increase alongside if there is any shortage of service to get full pension and gratuity
4. More over there is a chance of getting an additional MACP by the central govt employees if there is any short fall in the service by two years to get 2nd or 3rd MACP
1. Promotions will be affected due to no retirement up to two years
2. Unemployment problem will be continued due to the increase in retirement age.
3. The age criterion to get government job to be relaxed to two more years, otherwise those who are at the verge of crossing the age limit will be affected seriously
4. Efficiency will be affected if the retirement age of unhealthy employees increased.
As this proposal is detested by majority, only those who are at the verge of retirement roll out red carpet for this.
with inputs from :www.Employees Order.com