Chandhigarh, Feb 29: The retirement age of government employees in Punjab has been reduced from 60 to 58 years. The announcement was made by Finance Minister Manpreet Singh Badal while presenting the state budget.
Reduction in retirement age comes with withdrawal of extension of practice of giving extension in service.
Presenting the fourth budget of the Captain Amarinder Singh-led Congress government in the state, Badal also announced a hike of Rs 4,000 crore in expenditure on salaries and pensions. This is mainly to account for releasing the pending arrears of Dearness Allownace (DA) and for the new pay scales to be announced.
Badal further announced that 6 per cent of DA arrears will be released within next week.
Badal said reduction in retirement age will allow the government to create new job opportunities and recruit youth.
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