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Can Retirement age 60 to 58 Solve Unemployment Problem?

Admin Editor December 8, 2014

Can Retirement age 60 to 58 Solve Unemployment Problem?

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 “The Financial Express”, one of the leading newspapers recently published a news article on the Central Government’s plan to reduce the retirement age of employees from 60 to 58. This news shocked the central government employees.

“Reducing the retirement age of central government employees from 60 to 58 will help to solve the unemployment problem in India?”

Reasons for decreasing the retirement age from 60 to 58:

The following reasons are attributed for decreasing the present age of retirement:

            1) To create more employment opportunities for the youth

2) To increase the contribution of younger employees in the government sectors and

3) To compensate the loss accrued due to payment of allowances

Unemployment issue:

            None can have any disagreement about the fact that employment opportunities should be provided for the unemployed. There are so many ways for solving the unemployment problem. They are:

1) Introducing new employment policies

2) Filling all the positions lying vacant and

3) Promoting self-employment by introducing new schemes and providing suitable facilities and many more ways can help to solve the problem of unemployment.

 

Increasing the retirement age from 60 to 62 for scientists:

            In the Rajya Sabha, for a question raised on increasing the retirement age for scientists from 60 to 62 in written format, the response given was:  “it is under consideration”.

The important reasons for increasing the retirement age for scientists are:

1) Their experience and expertise should benefit the younger generation and

2) The average life span has increased.

“Isn’t there a need to increase the retirement age of employees working in other fields?”

Allowance issue:

Extra allowance that has to be paid is cited as a reason for bringing down the retirement age of employees from 60 to 58.  However, in reality, the pay commission is set up only once in 10 years and benefits the central government employees.

“In the long interval of 10 years, only these allowances help the employees to cope with inflation”.

In the past, the average service period of a central government employee was 30 to 40 years. Presently, as the age limit for appointment has been relaxed, the average service period has come down to 20 to 30 years. Due to this, an employee can only have 2 or 3 pay commissions in his service period.

In this situation, citing allowance as a reason for decreasing retirement age and altering the present allowance rates will adversely affect the economic condition of central government employees.

Average retirement age in the world:

The average retirement age of many nations is between 63 and 65. Comparatively speaking, even the age of 60 is obviously a very early age for retirement. In this context, we do not know whether the employees will accept 58 as the age of retirement.

Will early retirement solve the unemployment problem?

Employment for all is a very important. It is the duty of a nation to provide employment to all her youth and lead them in a better way.  The hope and aspiration of every youth in this country is to get a good job. They do not expect the retirement age to be brought down from 60 to 58.

Even when all the 50 lakh central government employees retire, will it help to resolve the unemployment problem of this nation?

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Comments

  1. k v rao says

    December 24, 2014 at 6:52 pm

    Why politicians are mostly concentrated on employees. Why not on business people. Most promptly employee will pay income tax, professional tax, college fees etc for children(without any concessions). First government has to collect tax by implementing transaction charges. It will be beneficial to government to get money from all incomes, now existing income tax system is not good. Then government has to establish agriculture as industries or other ways to create more employment. Why government is thinking about 50 lakhs employees out of 125 crore people. It is a political drama only.

    • s v sharma says

      January 8, 2015 at 11:59 am

      Reducing retirement age is good as long as new jobs are created ,it should happen simaultaneously,otherwise lead to lot off dissatis faction .alternatively VRS scheme can be offered to employees above 55 so that people can go voultanrily .

      • Raghavendra prasad N.N. says

        February 11, 2015 at 5:29 pm

        yes please reduce the retirement age of all the government employees from 60 to 58 or introduce special voluntary schemes for voluntary retirement and help youths to work.

  2. G S Negi says

    December 17, 2014 at 12:03 pm

    every state Govt and center govt is not interested to resolve unemployment issue, only they raising the issues and slogan during the election time. If Govts wants to resolve the unemployment issued than why they are keeping the contract labour through contractors in all fields instead of appointing regular employees them. Govt. is paying money to contractors but contractors is not paying the minimum wages to the labour. when govt is paying money to contractor, that money can be paid to the employees as a regular employees to resolve the unemployment. In center govt officers and official retiring every month and every year and department is not filling those post, it means govt. itself don’t want to resolve the issue.

    In state govt. is keeping the employees on contract bases for 8 and 9 years and their after they treated as regular employees. Is this not exploitation on the part of govt. knowingly.

    The span of life is increasing, in my view govt should retain the brain and experience personnel instead of retiring them in the interest of service. the Controlling officer should check/ control against the dud officers/ officials by mentioning in APRs and service book

    Further, no person should hold the Govt. office/ post more than 35 years from the first appointment.

  3. m.s.mishra says

    December 15, 2014 at 11:24 pm

    It will be a very wise things to be acceptable after reducing the age from 60 to 58.Of Couse in a welfare state a little problem for some employee can be avoided for a greater interest i.e. Unemployment issue .Perhaps it will be the best work of the govt. of India in present scenario

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