50,000 EMPLOYEES BENEFIT BY REDUCTION IN QUALIFYING SERVICES
Srinagar, Sept 3: The state government’s decision to reduce the qualifying service to 28 years would largely benefit the employees recruited into the government service since January 1995, entitling them to full pensionary benefits.
“An employee with only 28 years of service at the time of his retirement will now be entitled to full pensionary benefits which was not the case earlier,” an official from Finance department told Greater Kashmir. The move is likely to benefit over 50,000 state employees.
Likewise, more commutation benefits would be earned by the government servant with 28 years of service at the time of his retirement, the official said.
Commutation is kind of a loan provided to an employee by the government at the time of his retirement for the period of almost 8.5 years, introduced with effect from July 1, 2009. But it is mandatory on an employee to return the loan at the interest rate of 5.75 per cent.
Though there would be no change in the gratuity benefits received by an employee, he has the option to commute any portion of his basic pension up to 40 percent.
However, an employee with less than 28 years of service at the time of his retirement would draw the pensionary benefits as per the rules keeping in view the net qualifying service only. And the employees who have more than 30 years of service period will not be benefited by the latest ruling of the government as they have already crossed the qualifying service period and would be getting the same pensionary benefits which they were entitled to before declaration of 28 years of qualifying service.
Last week state cabinet approved reduction in the qualifying service period of an employee from 30 years to 28 years making them eligible to pensionary, commutation and other benefits after retirement.
Prior to the latest decision, the government had on July 1, 2009, announced reduction in qualifying service from 33 years to 30 years. Despite the move a large number of government employees, mostly those who got recruited after 1995, were not entitled to full pensionary and other benefits.
Reduction in the qualifying service was one of the main demands of the government employees, who launched a month long agitation across the state earlier this year.
Chairman Employment Joint Action Committee (Q), Abdul Qayoom Wani, told Greater Kashmir that the employees’ unions had urged government to reduce the qualifying service period to 21 years.
“Today an educated youth gets a government job in his late 30s. Even by reducing the qualifying service period to 28 years, he will not be entitled to full pensionary benefits. We will again urge the government to reduce the qualifying period,” said Wani, who is also member of the Employees Coordination Committee.
Lastupdate on : Fri, 3 Sep 2010 21:30:00 Makkah time
Lastupdate on : Fri, 3 Sep 2010 18:30:00 GMT
Lastupdate on : Sat, 4 Sep 2010 00:00:00 IST
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