There is a new approach to retirement age limit which guarantees certain number of years’ service for all from the date of joining, say 30 years, of course with a minimum and maximum age limit for joining.

• Look at the advantages of service-period based retirement system?
• Do you think its advantages outweigh the advantages of age-based retirement?
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When should one retire? It has been a pestering question for ages. Now, there is new approach to it called service-period based retirement, Let me look at its advantages and see whether it can outweigh the merits of age based retirement.

How good is this new system? It needs scrutiny. First of all, it ensures certain number of service for all the employees. Secondly, when there is provision for a fixed number of years’ service, obviously, the nation can make better use of its human resources. Thirdly, it is right to say that all those who get paid employment can make substantial contributions for themselves in particular and for society in general. There is greater scope for young bloods as well.

Age-based retirement, by the way, is of course able to accommodate youngsters every year provided the set age is affordable. Besides, this system makes whole service sector organized in the sense that there is a particular date for every one’s retirement. Say for example, in Kerala 55 years is the age limit. But the retirement date is at the end of the financial year. This is a blessing for many.

But for one who is waiting to fill the gap left by retirees it is a huge problem. But there is a problem that people who join service at the cut of date of joining may get only a few years’ service. This is not so in service-period based system where one is assured of certain years’ service no matter when he or she joins. In this system some people are retiring from service everyday and some are joining too. Waiting for year-end retirement does not happen here as well.

In short, looking at the advantages of conventional retirement practice and the new one, the latter one stays a cut above the former. Anyway, the new approach needs to be tested to be accepted by all.

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