Representative image | Photo: Mathrubhumi
Thiruvananthapuram: Around 11,800 government sector employees, including teachers, are scheduled to retire from service on May 31. In May 2022 and May 2021, the number of people who retired was 11,100 and 9,205 respectively. The old practice of giving the date of birth as May 31 in school entry documentation is the reason why a large number of people retire on the same day.
As per the Eleventh Pay Revision Commission Report, a staggering 21,063 individuals are set to retire in the state this year. This significant number indicates that approximately half of the total retirement pool will bid farewell to their careers today.
The annual retirement average is 20,000. According to govt data, the state is projected to experience a higher-than-average number of retirements in the year 2027, that is 23,714 individuals.
Those who retire are entitled to get benefits. The estimated cost for the same is around Rs 3,000 crore. However, the government does not have the burden of releasing the amount all at once. The benefits are disbursed based on the nod from Accountant General.
Reiterating the same, Finance Minister KN Balagopal said that usual arrangements are in place to disburse the benefits.
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