Retirement Age: This is an important aspect in the life of an employee. Retirement is a stage that every employee keeps in mind regarding when they will retire from service. It is bound to affect their lives in a very dramatic way, in terms of their future plans and aspirations because of a sudden twist in the retirement age. This time around, it had become quite a buzz when it was rumored that the government may change the age of retirement for central officials.
Questions Raised In Parliament
Among the very serious questions raised on the floor of the Parliament is whether the Government of India has any plans to reduce the maximum age limit for remaining in government service. Put simply, is the government planning on slashing off the retiring age of employees? Apart from this, there was also a question on whether the government would come to any conclusions regarding retirement according to the accomplishments of the employees, and whether such employees would easily retire after exactly thirty years of service. The importance of this question, however, stemmed from the rising unemployment levels in the recent past, which made this a critical issue.
Clear Answer From Government
In very plain words, the government has rejected all such rumors, which said that they were making any alteration in the retirement age of the government employees. The government also made it very clear in Parliament that there is no proposal under consideration or any proposal for such alteration. The government also stated that there is no plan to give employment to youth by reducing the retirement age. Hence, all those who are worrying because of this rumor feel at ease.
How Changes Modify Future Plans Of Employees
Such changes in the retirement age have an immediate effect on employee future plans. They would have had to make drastic changes in their financial plans, which at best meant saving more in a shorter period and cutting down on expenses. They would also have to draw up fresh plans for life after retirement. Now that the government has clarified this issue, employees need to change their decisions and can move ahead according to their current career plan.
Also Read: RBI New Rules: RBI Has Made 3 New Rules Regarding CIBIL Score, Applicable From 1st Date