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Retire at 62, Govt. of India mulls raising retirement age to 62

Admin (2009-08-13 20:31:11)

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Government mulls raising retirement age to 62 yrs
The government is actively considering raising the retirement age of all central government employees, including those in the armed forces, from the present 60 to 62 years.

Finance Minister Pranab Mukherjee has submitted a report to the prime minister outlining all the pros and cons of the move, including the “cascading effects” on government employment and the huge savings, at least for two years, on account of retirement payouts.

If the Department of Personnel and Training (DoPT) and the prime minister find the arguments forwarded by the finance ministry credible and convincing, the announcement may come as early as August 15, as part of Manmohan Singh’s Independence Day speech.

Source: Business Standard

Retire at 62, Govt. of India mulls raising retirement age to 62

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