Union government wants retirement age 62

Union government wants retirement age 62

The Union Government is seriously considering raising the retirement age to 62 for Central Government employees. Obviously, if the Congress announces this before the Lok Sabha polls, it could expect a sizeable vote share. North Block, which houses the Union Ministry of Finance would be more than happy to have 62 years as the retirement age because for next two years the pension funds can accumulate. 

The UPA2 also wants to put the next government in fiscal tight spot, or what is called the War Room effect of the AICC. 

[http://news.rediff.com/commentary/2013/may/27/union-government-wants-retirement-age-62/bb31a983bae7063849ed4600a9e9ffbd]

Comments

Anonymous said…
It will be a very hasty and embarassing decision to raise the retirement to 62 years. In view dinishing marginal returns from aged employees, the youth of the nation will lose opportunity for 2 years.
mohan said…
it is an great insult to the youngster's who are expecting
jop opportunity.
P C Verma said…
why not ! govt definitly should increase the returement age to 62 years on optional basis.Those who are not interested can opt for no, but those who really has a vast experience (particularly in technical and scientific field )& really want to serve can opt yes. AT this stage most of the employes also free from their responsiblity they give full time or more time to office.
Anonymous said…
This comment has been removed by a blog administrator.
KK said…
Youths are not interested in Govt jobs due to NPS, the interest now if taken to increase the age limit from 60 to 62 it is wise and not late. After joining new job , the youth mind roams in different job, after leaving job due to better prospects,finally resut to deficiency of staff and also suffering of work
Anonymous said…
it should definitely happen....much awaited and most expected news....would be a big relief!!would definitely increase the vote bank..

Anonymous said…
definately looking forward to this major decision....the govt.should increase the age to 62.in return it would be a massive voter bank in their support.
Anonymous said…
If age is raised to 62 years this will be a great set back for the youths. Promotions will be held and there will be no creation of vacancy. How our youths get employment. This needs reconsideration.
ks said…
1. Raising retirement age to 62 yrs for Central Govt employee or 65 yrs for bank employee will not serve any purpose as the productivity is directly proportionate to the age of an employee.The productivity of the country as a whole is already suffering.
2.More over the average age of an indian is 70 yrs so let the retiree retire at 58/60 yrs and enjoy retired life if God permits.
3. The opportunity from youth should not be snatched by such acts.
4.Central Govt should make jobs more attractive in terms of pay /perks so that youth can stick to Govt jobs and growth of the ountry can be put on fast tracks.
Good luck India.
ks
Anonymous said…
Good for country, if it is true. A employee virtually works for free after 55 years considering his GPF/Gratuity/Pension locked with government.
Unknown said…
My Suggestion:

1. The Retirement Age must be brought down to 55 progressively.

2. This way broadly young brigade will be there in Government services..

3. The experienced but not yet exhausted shall be a boon for Private Companies/MNC's

4. There will be overall growth as Government as well as Private houses shall register increase in productivity.

5 India will flourish..

S S Joshi
Anonymous said…
It is a wonderful idea. Retirement is gross wastage of human resources. When a judge can retire at the age of 65 and a UGC professor can retire at65 why not a government employee cannot retire at 65? Longevity of life expectancy is putting tremendous burden on exchequer. If you increase the retirement age you are getting the work done for almost half the cost as you need not give pension. When Honerabl Finance Minister, Prime minister and other ministers can work most efficiently at this age why can't all the employees cant work for the development of the nation instead of eating free ration of the country and working elsewhere. Who ever has increased the retirement age from 58 to 60 was a great visionary! We need anothergreat personality to increase the retirement age to 65 years immediatly! It will boost the GDP as the retirement benifits we are giving to the employees can be utilised for Nation Building!So Honerable Prime minister implement it immediatly.People never should retire in life & it happens only once!
Well Wisher of Employees.
Pe
Anonymous said…
It would be greatest mistake of UPA Govt.

There are several points which should be considered before taking such a big decision.

First of all there is lot of Unemployment in India, without new generation of jobs impact would be youths will be jobless for more periods resulting in Depression and some might even take severe steps.

Second old persons are that much competent in comparison to new blood.

What will happen to UPA message for Young India whereas all political and Govt officials will be old persons.

India is a socialist state which believes in welfare of society. Central Govt. Employees are already well-off it a new blood gets a job then its beneficial for the whole family. Just retaining money of pension for two years is somewhat childish concept.

More ever this country has youth population and this decision of UPA will make them not to vote for them
Unknown said…
Hi,The move by UPA 2 govt to increase the retirment age to 62 is welcomed .as we know the age group in india of more than 58 + people has been growing a lot looking into the retirment from their services so by increasing the age group in 2014 elections there is a sure increase in the no of votes UPA would gain as the govt people will be more happy and there is a cost cutting need also in hand as we need not recruit new contract resources

chandra vijay ,software engr
kks said…
It is true that the youth of the country is least interested in govt. jobs due to implementation of the NPS system or might be other reasons too. The opportunity may be given to the serving govt. employees to continue for further 2years or more. The VRS is already in its force for unwilling govt. employees.

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