Through all aspects of demography, it seems that the proposal for a change in the retirement age for government employees has observed a broader debate recently. Reportedly, the central government is considering the proposal to expand their current retirement age from the legally fixed 60, to 62 in some categories. a few reports also suggest a chance of increasing the same to 65.
This is at a juncture when the meaning of the situation with the prompt need for a rise in staff skilled and further workload. In case such a change is accepted, it would affect millions of employees with different sectors which might potentially give rise to major restructuring of workforce planning, thereby requiring new thinking on long-term employment policies.
Why, therefore, the present Government is thinking about the retirement age
Many are the reasons that would justify upping retirement age. The improved health of employees coupled with their life expectancy getting longer means they are able to do more work for more years. High turnover frequently results from the all too often seen retirement of top staff during a period wherein there are high vacancy rates and hiring processes proceed at a lowly pace. After the cutoff date moves back, the government is optimistic as regards maintaining some form of consistency in the service without having to go through the ordeal of recruiting frequently.
Impact on Existing Employees and New Job Seekers
If retirement age increased, the current workforce might find added service years advantageous, as this would lead to increased pension benefits and a sound financial future for them. This could be an opportunity for employees to support their savings in their retirement days. The proposal raises serious concerns for young job seekers who worry that, with the vacancy rate falling, recruitment could slow down. Experts suggest that some balancing measures need to be taken on behalf of the government so that increasing job opportunities for the young does not get particularly compromised.
Tentative Timing and Official Clarifications
Following innumerable meetings and conferences behind the scenes currently, the actual notification has not come out yet. The final decision suggests that the changes will be made in the aftermath of committee recommendations, possibly post wide intra-department consultations. In case of approval, the changes will come into effect in phases so that both the employees and departments can transition smoothly.
The source has disclosed that a new proposal, once accepted, will be published and legalized transparently by a further ratification through cabinet office, and so far employees are told to wait and trust any such orders to be formalized very soon.