New Delhi: The Department of Pension and Pensioners’ Welfare has issued new guidelines allowing central government employees covered under the National Pension System (NPS) to opt for voluntary retirement after 20 years of service. The Office Memorandum, dated October 11, outlines that employees who choose voluntary retirement will receive benefits similar to those retiring on superannuation.
Under Rule 12 of the Central Civil Services (Implementation of NPS) Rules, 2021, government employees can retire by submitting a three-month notice to the appointing authority. If the notice is not declined within the specified time, the retirement will take effect upon the notice period’s completion.
Upon retirement, employees will be entitled to the benefits under the Pension Fund Regulatory and Development Authority (PFRDA) guidelines. This includes provisions for exiting and withdrawing from the NPS. Employees may also choose to defer the payout or continue with their pension account beyond retirement.
This clarification provides central government employees with a clear pathway for early retirement while ensuring access to pension benefits similar to those retiring at the end of their tenure.
