New Retirement Rule: You can take VRS after 20 years of service under NPS, these benefits will continue

New Retirement Rule: Central government employees coming under the National Pension System (NPS) can now opt for voluntary retirement (VRS) after completing 20 years of service. They will continue to receive the same benefits as regular retirement.

National Pension System (NPS) subscribers who are central government employees can now opt for voluntary retirement (VRS) after completing 20 years of service. They will continue to receive the same benefits as regular retirement.

VRS after 20 years of service under NPS

The Pensioners’ Welfare Department has issued new rules for VRS. According to these rules, employees who have completed 20 years of service can opt for VRS by giving three months’ written notice. Employees must submit their VRS application in writing to the appointing authority.

Three-month notice period

The retirement will be deemed accepted if the appointing authority does not raise any objections within the three-month notice period. Employees who want to retire with a notice period of less than three months can appeal in writing. The appointing authority will consider the appeal and may accept it if it does not affect administrative work.

More flexibility

After submitting the retirement notice, the employee cannot withdraw it unless they receive special permission. The request to withdraw the notice must be made at least 15 days in advance. The new rules will provide employees with more flexibility and opportunities for future planning under the VRS scheme. They will be able to choose their retirement time themselves.