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National Pension System: The government has issued new guidelines regarding voluntary retirement of Central Government Employees who come under NPS (National Pension System). According to the new guidelines of the Department of Pension and Pensioners’ Welfare, those central employees who have completed 20 years of regular service can, if they wish, seek permission for voluntary retirement by giving three months’ notice to the appointing authority. .
Department of Pension and Pensioners Welfare has issued an office memorandum on 11 October 2024. According to this new rule, those employees who have completed the service period of 20 years can apply for voluntary retirement after that. For this they will have to apply to the authority which has appointed them. If the authority does not reject the request of the central employee, then retirement will become effective as soon as the notice period is over.
According to this rule, if a central employee wants to retire in less than three months’ notice period, then he will have to request for it in writing. The appointing authority may shorten the notice period after considering the request. Once a central employee gives notice for voluntary retirement, he cannot withdraw it without the approval of the authority. To withdraw it, the application will have to be made 15 days before the date on which retirement permission 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 standard retirement age which are given to regular government employees on retirement. If a government employee wants to continue the Individual Pension Account or wants to defer the benefits under the National Pension System on the date of retirement, then he can adopt this option under the regulations of PFRDA.
According to the Department of Pension and Pensioners’ Welfare, if an employee retires under the Special Voluntary Retirement Scheme due to being a surplus employee, this rule will not apply to such employees. Also, if an employee is hired in any public sector undertaking or autonomous body after retiring from a government job, then this rule will not apply to them also.
