Department of Pension and Pensioners Welfare, Government of India has clarified that after 20 years of service, central employees covered under the National Pension System can opt for VRS by giving three months’ notice.
The Department of Pension and Pensioners Welfare (DoPPW) of the Government of India has issued a guideline related to the rights of central employees who choose voluntary retirement (VRS) under the National Pension System (NPS). Through an office memorandum issued on October 11 this month, the department has notified the Central Civil Services (Implementation of National Pension System) Rules, 2021 for service related matters of central government personnel covered under NPS. This decision will benefit those central government employees who want to take voluntary retirement i.e. VRS. This rule determines the service conditions and pension rights for employees covered under NPS.
According to Rule 12 of the Central Civil Services Rules, 2021, central government employees covered under NPS can request retirement from service at any time after 20 years of service by giving a notice of 3 months in writing to the appointing authority. According to the office memorandum issued, after completing 20 years of service, the VRS notice will require approval of the appointing authority.
Will VRS provide benefits like retirement?
Will central government employees get benefits like retirement on VRS? The rules provide that central government employees covered under NPS can take VRS from service at any time after twenty years of regular service by giving three months’ notice in writing to the appointing authority. Employees will have to give at least three months’ written notice to the appointing authority.
A government employee on VRS will be entitled to the benefits available under the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015, which is similar to the benefits given to a retiring subscriber on retirement.
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