NPS Update: According to the office memorandum of DoP&PW, government employees who are taking voluntary retirement will be given all the benefits under PFRDA Regulations 2015.
National Pension System: The government has issued new guidelines regarding voluntary retirement of Central Government Employees who come under NPS. According to this new guideline of the Department of Pension and Pensioners Welfare, central employees who have completed 20 years of regular service, if they wish, can seek permission for voluntary retirement by giving three months’ notice to the appointing authority.
The Department of Pension and Pensioners Welfare has issued an office memorandum on 11 October 2024. According to these new rules, employees who have completed 20 years of service can apply for voluntary retirement after that if they wish. For this, they will have to apply to the authority that has appointed them. If the authority does not reject the request of the central employee, then the retirement will become effective as soon as the notice period ends.
According to this rule, if a central government employee wants to retire in less than three months’ notice period, he will have to request for it in writing. The appointing authority can shorten the notice period after considering the request. Once a central government employee gives notice for voluntary retirement, he cannot withdraw it without the approval of the authority. To withdraw it, an application will have to be made 15 days before the date on which permission for retirement was sought.
According to the Office Memorandum of the Department of Pension and Pensioners Welfare (DoP&PW), government employees who are taking voluntary retirement from service will be given all the benefits under the PFRDA Regulations 2015. They will get all the facilities at the standard retirement age which are given to a regular government employee on retirement. If a government employee wants to continue the individual pension account or wants to postpone the benefits received under the National Pension System on the date of retirement, then he can adopt this option under the PFRDA Regulations.
According to the Department of Pension and Pensioners Welfare, if an employee retires due to being surplus employees under the Special Voluntary Retirement Scheme, this rule will not apply to such employees. Also, if an employee is kept in any public sector undertaking or autonomous body after retiring from a government job, then this rule will not apply to them either.
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