Retirement scheme gets approval

Panaji: The cabinet on Monday granted approval to the voluntary retirement scheme (VRS) for group ‘C’ employees of govt who have completed 20 years of service but are less than 45 years in age.

The scheme is open for a period of four months from the date of publication in the official gazette. The scheme is applicable to all permanent group ‘C’ govt employees who are aged 45 years and above.

As per the scheme the head of department, after accepting all applications within four months, will make a single consolidated proposal to their respective department indicating the number of applications, clear recommendations for each application and forward it to the finance department within two months.

In addition to the facilities covered under the CCS Pension Rules 1972 (now 2021) and the employee covered under new pension system, the employee who avails VRS is entitled two months’ salary for each year of service left till superannuation, subject to a maximum of 20% balance non-incremental salary receivable based on the basic pay drawn as on the intended date of voluntary retirement. The term “salary” includes basic pay plus dearness allowance, a senior officer said.


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