Chandigarh, August 4: After much talk of discontinuing the two-year extension to retired government staff, the Punjab government is sticking to it. For, it requires Rs. 4,500 crore to fund the retirement benefits of 15,000 employees who will superannuate if the extension policy is scrapped. Most employees retire at 58, though there are some who age of superannuation is 60.
News Source: http://www.hindustantimes.com
The proposal to end the extension to 60 and 62 was discussed at several levels, as the Congress, before and after forming the government four months ago, promised employment to the youth. “But there’s huge cost involved. We need to have funds ready to immediately give retirement benefits and also pension to all who lose extension,” said a senior officer involved with the process, on the condition of anonymity.
News source: http://www.hindustantimes.com
