Do you do a government job and want to retire early? If yes, then there is good news for you. The government has recently issued a new rule, under which central government employees can now take voluntary retirement after completing 20 years of service. Yes, you heard it right. Now you will not have to wait long to fulfill your dreams.
How to get this benefit
Importance of NPS: Central government employees have to join the National Pension Scheme (NPS), which comes under the Central Civil Services (Pension) Rules of 2021.
20 years of service: After completing 20 years of continuous service, you can apply for voluntary retirement.
Notice period: You have to give a written notice of at least three months to your employer.
What will you get after retirement
All facilities: You will get all the facilities like regular retirement.
PFRDA Rules: You will get benefits as per the rules of the Pension Fund Regulatory and Development Authority (PFRDA).
What is the notice period
Three months’ notice: If you want to take voluntary retirement, you must give your employer a written notice at least three months in advance.
Compulsory retirement: Your retirement will become effective after the completion of the three-month notice period.
Will you take advantage of this new rule
If you want to retire early and enjoy your life, then this is a golden opportunity for you. However, you should make a decision keeping in mind your financial plans.
What are the benefits
Early retirement: You can retire early and enjoy your life.
All facilities: You will get all the facilities like regular retirement.
Flexibility: You can plan your life according to your choice.
What is the process
Notice period: If you want to retire, you must give your employer a written notice of at least three months.
PFRDA benefits: After retirement, you will get benefits as per PFRDA guidelines.
Other NPS accounts: If you have more than one NPS account, you will have to inform PFRDA about it.
This new rule is a big opportunity for central government employees. This will give them more flexibility in planning their retirement. If you are a government employee, take advantage of this opportunity and secure your future.