New guidelines have been issued regarding the voluntary retirement of central government employees under the National Pension System (NPS). According to the office memorandum of the Department of Pension and Pensioners' Welfare (DoP&PW), employees who have completed 20 years of regular service can apply for voluntary retirement by giving three months' notice to the appointing authority.

This office memorandum was issued on 11 October 2024. According to the new rules, if an employee has completed 20 years of service, he can apply for voluntary retirement. If the appointing authority does not reject the application, the retirement will become effective on the expiry of the notice period.

If a central employee wants to take retirement in less than three months' notice period, he has to request this in writing. The appointing authority can reduce the notice period by considering this request. Central employees who have once given notice of voluntary retirement cannot withdraw it without the approval of the authority. If they want to withdraw it, they have to apply 15 days before the day on which approval for retirement was sought.

According to the DoP&PW office memorandum, retired government employees will get all the benefits under the PFRDA Rules 2015. They will get the facilities given to regular government employees on retirement. If a government employee wants to continue with the individual pension account on the day of retirement or wants to defer the benefits under NPS, he can choose this option under the PFRDA rules.

According to the Department of Pension and Pensioners' Welfare, if an employee retires as a surplus employee under a special voluntary retirement scheme, then these rules will not apply to them. Also, if an employee is employed in a public sector undertaking or autonomous organization after retiring from government service, then these rules will not apply to him.