Retirement Age Increase: Many types of news are coming out these days regarding the retirement age. It has been proposed to increase the retirement age. EPFO is considering increasing the retirement age due to the increasing age of senior citizens across the country.
According to media reports, the EPFO has said that by increasing the retirement age, the burden on the pension system will be reduced significantly . Both the government and the employees will get the benefit of this. That is why the government is planning on this idea.
According to the information given by the retiree
organization, by the year 2047, the number of people above 60 years of age in India will be more than 140 million, due to which the pressure on the pension fund will increase significantly. Apart from this, in other countries it is up to 67 years.
Giving information, an official said that if the retirement age increases, then it will result in more money deposited in the pension fund by the employees and the employees will get the benefit of more benefits.
What is the retirement age now?
Let us tell you that the maximum age of retirement in India is between 58 years to 65 years. All types of private and government employees come in this. Apart from this, if we talk about the European Union, then the average age of retirement there is 65 years. At present, the retirement age in Denmark, Italy and Greece of Europe is 67 years, while in America it is fixed at 66 years.
