The good news! Increased employee retirement age and pension amount

New Delhi: The Modi government at the Center may soon give good news to the employees. The government is considering raising the retirement age and pension amount of the employees. The proposal (Universal Pension System) has been sent to the Prime Minister by the Economic Advisory Committee.

At the same time, the PM’s Economic Advisory Committee has said that in addition to raising the retirement age in the country, a universal pension system should be introduced.

Senior Citizen Safety
As per the report of the committee, under this suggestion a minimum pension of Rs.2000 per month should be given to the employees. Let us inform you that the Economic Advisory Committee has recommended better measures for the protection of senior citizens in the country.

Skills Development Essential In order to increase the working age population, there is an urgent need to increase the retirement age. This can be done to reduce the pressure on the social security system. The report also discusses skills development for people over the age of 50.

Governments formulate policies
The report states that the Center and the states Governments should formulate such policies so that skills can be developed. This effort should also include those living in the unorganized sector, remote areas, refugees, migrants who do not have the means to receive training, but should be trained.

World Population Prospectus 2019 Report
Let me tell you that according to the World Population Prospectus 2019, by the year 2050, there will be 32 crore senior citizens in India. In other words, about 19.5 per cent of the country’s population will retire. In 2019, about 10 percent or 140 million people of India’s population are in the category of senior citizens.

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