Retirement Age in India: It has been proposed by the Employees’ Provident Fund Organization (EPFO) to increase the retirement age of private and government employees.
Retirement Age Increase: Many types of news regarding retirement age are coming out these days… Employees Provident Fund Organization (EPFO) has proposed to increase the retirement age of private and government employees. Is. Due to the increasing age of senior citizens across the country, EPFO is considering increasing the retirement age.
The burden of the pension system will be reduced
According to media reports, EPFO has said that increasing the retirement age will reduce the burden on the pension system significantly. Both the government and the employees will get the benefit of this. For this reason, the government is planning on this idea.
How many people will retire by 2047
According to the information given by the organization, by the year 2047, the number of people above 60 years of age in India will exceed 140 million, due to which the pressure on the pension fund will increase considerably. Apart from this, in other countries it is up to 67 years.
More amount will be deposited by the employees
Giving information, an official said that if the age of retirement is increased, then more money will be deposited in the pension fund by the employees and the employees will get the benefit of more benefits.
What is the retirement age now?
Let us tell you that in India, the maximum age of retirement is between 58 years to 65 years. All types of private and government employees come in this. Apart from this, if we talk about the European Union, then the average age of retirement there is 65 years. At present, the retirement age in Europe’s Denmark, Italy and Greece is 67 years, while in America it is fixed at 66 years.
