No Change in Retirement Age for Employee Pension Schemes
The Central Government is not planning to increase the age limit for employees to qualify for pension benefits. The pension implementation team has suggested that the minimum age of employees seeking retirement and pension benefits under the short service category must be raised from 50 to 55. The Employees’ Provident Fund and the board of Central Government trusts are considering these recommendations.
If the recommendations are implemented, there could be an increase in the pension funds that are depleting due to the retirement benefits being given out to pensioners of the short-service category.