THIRUVANANTHAPURAM: After the pension age of public sector institutions was raised to 60, the government is planning to increase the pension age of government employees and teachers from 56 to 57. The finance department is planning to save Rs.4000 crores through this move.

Around 20,000 retirees every year. The benefits for a person who did full service and in a low post will cost Rs.20 lakhs. For higher posts, this amount will reach Rs.50 lakhs. The government is taking a loan of Rs.2000 crores just to give the salaries and pensions. The increase in the pension age is a comfort for the government.

For this favorable decisions must be taken in the LDF. The government must also face the wrath of student organizations. The pay commission had suggested raising the pension age of government employees and teachers from 56 to 57. When considering the life expectancy in Kerala, the age of retirement at 56 is too early.

If the pension age is raised then gratuity, pension commutation, and earned leave can be saved in the initial stage.