Is raising retirement age of Central Government Employee a threat for employment prospects of youth ?
At the end of Every Year people used to talk about the proposal of raising the retirement age of government servants. Normally the people who are at the verge of retirement from government service are eagerly expecting the government to increase the retirement age. The Government servants especially those who are in the pay structure of Pay band –I will have to face financial burden as the Pension amount they will be paid after commutation will be very meager and it is not sufficient enough to meet their expenses of day to day life. Because the Government employees those who are drawing grade pay of Rs.1800/-, 1900/-, 2000/-, 2400/-and 2800/- will get only around Rs.20000 as the gross salary of every month. It is understood that one cannot lead a financially successful life with this income alone. So many government servants, to run the life, forced to avail loans from where ever they can get. At the end, they are badly in debt at the time of retirement.
That is why the government servants don’t feel happy about retiring from service. But extending the service of two years from 60 to 62 will not solve all their problems. It will help them to put off facing the financial crisis for at least two years. But the Government does not consider this aspect any way to increase the retirement age of central government employees from 60 to 62.
