New Retirement Rule: Central government employees covered under the National Pension System (NPS) can now opt for voluntary retirement (VRS) after completing 20 years of service.
Central government employees covered under the National Pension System (NPS) can now opt for voluntary retirement (VRS) after completing 20 years of service. They will get the same benefits of NPS as they get on regular retirement.
Under NPS, you can take VRS after 20 years of service
The pensioners’ welfare department has issued new rules for VRS. According to these, employees who have completed 20 years of service can take voluntary retirement by giving a written notice of three months. Employees have to submit the VRS application in writing to the appointing authority.
A notice period of three months will have to be given
If the appointing authority does not raise any objection within a period of three months, the retirement will be considered approved. If the employee wants to retire with a notice period of less than three months, he can appeal for it in writing. The appointing authority will consider it and if administrative work is not affected, it can be approved.
More flexibility
After giving notice of retirement, the employee will not be able to withdraw it unless special permission is obtained. Request for withdrawal of notice must be made at least 15 days in advance. The new rules will give employees more flexibility on VRS scheme and an opportunity for future planning. They will be able to decide the right time of retirement themselves.
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