The Department of Pension and Pensioners Welfare (DoP&PW) has issued new guidelines in this regard. It states that employees coming under the National Pension System (NPS) can decide to retire at their own will. This means that the government has allowed its employees who have completed 20 years of service to take voluntary retirement.
The central government has taken a big decision in the case of its employees. Central government employees who have completed 20 years of service can retire whenever they want. The condition is that only employees who come under the National Pension System (NPS) will be able to avail this facility. The central government implemented NPS on January 1, 2004. All employees who started working in the central government on and after this date come under NPS. This means that employees who started their job in early 2004 will be able to take advantage of the new rule of voluntary retirement.
The Department of Pension and Pensioners Welfare (DoP&PW) has issued new guidelines in this regard. It states that employees coming under the National Pension System (NPS) can decide to retire at their own will. This means that the government has allowed its employees who have completed 20 years of service to take voluntary retirement. The government has issued a memorandum in this regard on October 11.
This decision of the central government is beneficial for those employees who want to retire early for some reason. The government has set some rules and conditions to take advantage of this facility. According to this, if an employee wants to take early retirement, then he will have to give a notice to the appointing authority at least three months in advance. This notice should be in writing. If the authority does not reject the employee’s request for early retirement, the employee will retire from the job after the notice period ends.
If a company wants to retire early, that is, it does not want to wait for the three-month notice period, then it will have to inform the appointing authority about this in writing. The appointing authority will consider his request. If his retirement before three months will not have any adverse effect on the work, then the appointing authority will approve his request.
A big condition in this case is that once the employee gives notice for early retirement, he cannot withdraw it until he gets special approval from the authority. Secondly, the employee will have to inform the authorities about withdrawing the decision of retirement at least 15 days before the date of retirement fixed as per the plan. This means that the employee will have to take the decision of early retirement after thinking thoroughly.
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