The shocking news for government employees has come out. The central government is preparing to reduce the retirement age of its officers and employees.
As per received message, DOPT has cleared the file for 60 yrs or 33yrs of service which ever is first. File has been sent to MOF and expected to be implemented from 1-4-2020.
Following the approval of the Finance Ministry, new retirement rules will be implemented from next fiscal year.
The government’s decision will have the most impact on the Public Sector Banks. The average age of the employees have been on average for about 22 years, so their 33 years of service will be completed in 55 years.
Post mergers of the banks, the merged entity may follow the guidelines to be implemented by the government.
DoPT sources say work has begun on the proposal. The list of officers and employees is being prepared in almost every department. The scheme will be implemented in several stages. A report is also being made about its financial provisions.
Sources say that after two years of service there is no major economic change in the salary category of an officer or employee, but when they work for sixty years, the promotion of their juniors is hampered.
The lateral entry scheme will be well implemented. At the same time, if new opportunities for promotion arise. New jobs will also be paved.
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