Central Government Employees: The government has changed the rules regarding retirement of central government employees. Employees can now retire in 20 years. They will get all the benefits like normal retirement
The government has changed the rules regarding retirement of central government employees. Employees can now retire in 20 years. They will get all the benefits like normal retirement. The National Pension Scheme (NPS) was started in January 2004 for central government employees. It was revised in 2009 and now it is also open to private employees. NPS is a voluntary pension scheme, which aims to create a retirement fund for employees. It is run by the government and the Pension Fund Regulatory and Development Authority (PFRDA).
Central government employees can retire in 20 years
According to the new guidelines issued recently, central employees can now take voluntary retirement under NPS. This information has been given by the Department of Pension and Pensioners (DoP&PW) under the Ministry of Personnel Welfare. Employees who join NPS under the Central Civil Service 2021 rules will get this service. Under this rule, central employees can take voluntary retirement anytime after completing 20 years of service. This means that any employee who works continuously for 20 years can avail the benefit of retirement.
This will be the notice period
The guidelines state that employees wishing to take voluntary retirement must give written notice to their employer at least three months in advance. The employer cannot reject this application. Retirement will be effective when the three-month notice period ends.
This service will be available after retirement
The government will provide all the facilities decided by PFRDA to the employees taking voluntary retirement. These facilities will be the same as the facilities available on regular retirement. If an employee has opened another NPS account, then he will also have to inform PFRDA about it.
