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    Economic Survey 2019: Govt proposes to increase retirement age

    Economic Survey 2019: Govt proposes to increase retirement age

    Economic Survey 2019: Govt proposes to increase retirement age
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    By CNBC-TV18  IST (Updated)

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    The government has proposed that the retirement age in India be increased given that the life expectancy of both males and females is rising as one of the radical ideas in the economic survey it tabled in Parliament on Thursday.

    The government has proposed that the retirement age in India be increased given that the life expectancy of both males and females is rising as one of the radical ideas in the economic survey it tabled in Parliament on Thursday.
    “This will be a key to the viability of pension systems and would also help increase female labour force participation in older age groups,” said the survey.
    The survey has recommended preparing the ground for the shift, which is likely to be met with resistance because job creation is a concern and one of the vital challenges of the new government. So it has proposed signalling this change well in advance—perhaps a decade before the anticipated shift—so that the work force can be prepared for it.
    “This will also help plan in advance for pensions and other retirement provisions.”
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