8th Pay Commission New Formula: Will central employees really retire only twice a year? Why is this new retirement formula being discussed amid the 8th Pay Commission? How will employees get ‘5 months extra salary’ from the new proposal? What benefit will the government get from this system?
8th Pay Commission Retirement Rule Update: Amidst the murmur of the 8th Pay Commission, there is a lot of discussion among the central employees about a new proposal of ‘retirement twice a year’. Under this, the idea is to retire the employees directly on 30th June or 31st December instead of their birth month, due to which many people can get additional job and salary for up to 5 months. Although the government has not yet taken any final decision on this, experts are considering it as a big step to improve the benefits of employees and government management. Let us know what is the whole matter and how you are going to benefit from it…
What is the whole matter?
At present, central government employees retire on the last day of their birth month. For example, if an employee is born in January, then he retires from service on the last day of January. But according to the proposal under discussion, the employees can be divided into two groups. Employees born between January to June should retire together on 30th June. Employees born between July to December should retire on 31st December. That is, instead of the month of birth, there should be retirement only on two fixed dates in a year.
How can one get a job for 5 more months?
Suppose an employee was born in January. According to the current rule, he will retire in January, but if the new model is implemented, he may get a chance to work till June. This means that you will get the opportunity to work extra for about 5 months, you will also get extra salary for 5 months, in some cases retirement benefits may also be affected. This is the reason why employees are showing special interest in this proposal.
What benefit can the government get?
If retirement happens only twice a year, it may be easier for the government to plan. As such, the recruitment process can be decided in advance. It will be easy to estimate the vacant posts. Departments will have an idea of staff needs in advance. Budget and human resource plans can be made in a better way. This means that along with the employees, the administration can also get benefit.
Has this proposal been approved by the government?
This proposal has not been approved yet. Till now no such official order, notification or announcement has been issued by the Central Government. This proposal has been under discussion for some time now, but at present it is only at the level of suggestion and debate. Therefore, do not make the mistake of considering every information circulating on social media as the final decision.
How many employees retire every year?
Lakhs of employees are working in the central government. It is estimated that every year around 3 lakh employees reach retirement age. If ever the system of retirement twice a year is implemented, then retirement of a large number of employees may happen simultaneously in June and December.
Why did the discussion increase regarding the 8th Pay Commission?
Employees are already having expectations regarding salary, allowances and pension regarding the 8th Pay Commission. At such a time, when a new proposal related to job and income comes out, its discussion naturally increases. This is the reason why this model of extra job and extra salary is attracting the attention of the employees.
What should employees do?
For now, wait for official information before trusting any viral post or social media message. Keep in mind that no new rules have come into effect yet. The existing retirement system continues as before. No formal announcement has been made by the government.