THIRUVANANTHAPURAM: Whether the government raises the pension age of employees or not, the pension age of 30 percent of employees in the participatory pension scheme has reached the age of 60. The retirement age will be 60 for fifty percent of the employees in 10 years and the entire staff in 20 years. At present, there are over five lakh government employees and teachers.

The participatory pension scheme has been in operation since April 1, 2013. The retirement age is 60 in the service book of those who have been in service since then. Prior to that, the retirement age was 56 years old. Retirees under the Participatory Pension Scheme now receive a nominal amount of pension. It is not useful for those who have not been in service for more than twenty years. The Central Government provides Rs. 20 lakhs to those who retire after 30 years of service. Retirement benefit is the amount withdrawn from the participatory pension Fund in Kerala. At the same time, statutory pensioners are getting at least Rs 17 lakh. They also receive Rs 5000 as the minimum pension.

Participatory pension

The pension will be paid from a fund compiled from 10% of the salary of the employees and the same amount from the government. The pension is proportional to the return on this investment. There is no minimum pension.

Statutory pension
The pension will be paid in full by the government. At least half of the salary before retirement will be paid as pension. The minimum pension is Rs 5000.

Employees in the state

Government- 377065

Aided -138574

Total - 515639

Pension age 60 - 148000

Pension age 56 - 367000

Statutory Pension Recipients -438535

Recipients of Participatory Pension-1500