Retirement age up due to recession?
The Prime Minister's office is contemplating raising the retirement age of Central government employees from the current 60 to 62 years. A proposal in this regard has been forwarded to the Union finance ministry, sources disclosed.
So far, the Union finance ministry has offered both the merits and demerits of the proposal. On one hand, the Union finance ministry argued that movement of the Central government employees could be severely hampered if the retirement age was extended by two years.
However, the ministry also pointed out that the move could benefit the government exchequer as it was going through a tough situation due to certain factors, including the drought and the impact of the global financial recession.
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So far, the Union finance ministry has offered both the merits and demerits of the proposal. On one hand, the Union finance ministry argued that movement of the Central government employees could be severely hampered if the retirement age was extended by two years.
However, the ministry also pointed out that the move could benefit the government exchequer as it was going through a tough situation due to certain factors, including the drought and the impact of the global financial recession.
To read the full article, click here..
To read the ePaper, visit: http://epaper.asianage.com
Labels: employees retirement age, finance ministry, global financial recession, government employees, govt employees, proposal, recession, retirement age
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11:56 AM
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