Premature retirement is when employee decides to retire early.
Premature retirement is when you are over 55 and employer terminates your employment.
Decision to grant premature retirement is on employer.
If premature retirement is given the person will get adjusted pension and the balance of what he / she would have received if were retiring on age grounds this is called mandatory compensation .
If a person has benefits in final salary and career average arrangements then all the benefits must be taken at same time.
Reasons for premature retirement.
- Compassionate grounds.
- Medical grounds.
- Domestic reasons.
Premature retirement is given on the grounds.
- If person remained absent from duties.
- Ignored government orders.
- Misused government items.
- Created false reports.
Control of premature retirement.
- Government has taken steps to control premature retirement by implementing central pay commissions with improved pay structure.
- Additional family accommodation .
- Married accommodation projects improvement in promotions prospects in armed forces.
- Government try to create appropriate environment for defence personnel.
- Try to improve the living and working conditions .
- Provision of psychological counselling conduct of yoga and meditation.
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