DA Arrears Calculator 1.7.2024 for 3 MonthsRetirement Age for Central Government Employees – An Analysis
The Motive behind Reducing Retirement Age for Central Government Employees – An Analysis
For a few weeks now, reports have been surfacing that the Centre is giving serious thoughts about reducing retirement age of Central Government employees from 60 to 58.
The truth behind these series of rumours couldn’t be found yet. There is no official stand on this either.
The news was first published by popular English daily newspaper. Without any official source to confirm it, the article analyzed the issue from various perspectives. It was presented in a manner that was acceptable by most.
This was followed by an order of the Railway department that was released on Facebook. In the order, the Railway Board had demanded an explanation from their zonal railways over the number of retiring employees (safety category) if the age of the retirement is reduced to 58.
Another event that gave credibility to the issue was the reduction of retirement age of state government employees from 60 to 58 in Haryana, a state ruled by BJP.
When the news of reducing the retirement age first surfaced, it caught employees by surprise and shock, because, for a while now, there were talks of actually raising the retirement age from 60 to 62! The current talks of reducing the retirement age have created a palpable sense of panic among employees over the age of 55.
There are many who are for and against the news, the strongest opinion in favour of age reduction being that it would help ease the unemployment problem.
Those who are looking for their first jobs would be happy to support any kind of age reduction – be it 58 or even 50! This is simply because they are desperate to get into a job. But the truth is – the attitude will definitely change once they get a job.
Each year, about 1.75 lakh employees retire from Central Government services. The claim that if an additional 3.5 lakh employees retire in a particular year, the country’s unemployment problem could be solved is unacceptable.
After reducing the retirement age, the number of new retirees is going to stabilize again. Will the Government resort to such tactics of reducing the retirement age again and again?
Moreover, it is also true that handing out retirement benefits to 5 lakh employees at a time is going to drain the Government’s financial resources.
Another important reason to support the reduction of retirement age is the claim that it would bring younger blood into the various central government organizations.
The fact is – in the past eight years, the number of central government employees all over the country has continued to be around 30 lakhs. Supporters of the “younger blood” theory couldn’t possibly know that nearly 50% of these employees are youngsters. To be accurate, the employees who had joined the central government services after 01.01.2000 now account for nearly 70% of the central government workforce.
Another argument in support of this move claims that it is the Government’s attempt to cut down unplanned expenses.
In the past few years, the Government had implemented a number of cost-cutting measures. It is not clear why the Government, that had remained blind to this fact, has suddenly seen the light. Ironically, such a move would only worsen the economic crisis.
Finally, what is the motive behind circulating such stories?
Is it to simply wipe out talks about increasing the retirement age from 60 to 62?
One has to wait and watch.
There is a hope that Modi Government wouldn’t risk weakening the Central Government offices’ functioning by sending home 5 lakh experienced and trained personnel all of a sudden.
And, let us hope that the Government recognizes the importance and value of 30 years of work experience of each of these employees before discarding them.
Reduction of retirement age is very good decision for our young generation due to increase in population problem of unemployment has increased so reduction of age of retirement gives employment To our youth
N govt. Service of 20 years a person can save enough n due to pension they can live ha0pily so it is a right step
It will be advantageous to all if the retirement age is fixed as 58 years
It is totaly my personal view .To day the unemployeement problem is a big headache for Government.
It is a good thinking if applicable the reduce of Retirement age from 60 to 58 years.
Here I would lile to say that ” The retirement age should be 55 years from 60 years and one dependent person as per the qualification held by the dependant may be given the appointment in place of retiree.
So, that the problem of “UNEMPLOYMENT” may be solved .
55 years OR 30 years of service which ever is earlier is more then sufficient for a employee to established and he is getting a employment for his child who is capable.
Please think about it and try to help the government to solved this major problem.
Please take it Confidential.
Is it not the right time to set right the most powerful persons,the political masters to retire,from politics? This will infuse young bloods.It is high time that only one pension they should be given either as EX-MLA-MLC or Ex MP.These people are using both the facilities, along with free residence,telephone,medical facilities. All these are with tax payers money.But , the tax payers in return does not have a minimum facility for survival in this country.
It is not understood why the retirement age age either to be increased or decreased it is the standard age 60yrs many cases even children’s are studying even at the age of 60 to yrs many people waiting for their children’s marriages expenses to be borne by thier retirement benefit. So when govt wants to reduce the age of govt employers it it should be well in advance of at least 5 yrs so that ever one can plan accordingly
Good