What should decide when to retire? - Age or Talent

What should decide when to retire? - Age or Talent

Introduction

Retirement is a point when a person stops his employment completely. There is a term “semi retirement” wherein the employee reduces the hours of his/her work. The concept of retirement started during the 19th and 20th century. It was first used in Germany.

This year the Punjab and Haryana HC gave its verdict on the controversy of reducing the retirement age from 60 to 58 years. The retirement age for IAS officers, officers of the judiciary and teachers of government schools is still 60 years. As per the decision from the Central government, the retirement age would remain 60 years and no changes have been made to it.

Now, let us come to the point of discussion. Should the retirement of an employee be based on his/her age or the talent that they showcase?

Age should be the criteria for retirement.

1. Benefits – If you retire at the proper age you will be entitled to the benefits for the rest of your life. You will get a small monthly benefit amount but for a long period.

2. Health – The death rate is increasing rapidly. It is advisable to retire at an early age before the health of the employee starts deteriorating.

3. Family time – The employee will be completely free after retirement if he retires at the age given by the government (60 years). He/she would get the opportunity to devote the time to his/her family without any tension.

4. New career – Retiring at a proper age would give a person a lot of time to work on his interest and passion. For example, there are people who write books after they retire.

5. Earn respect – Many people fail to retire early. Making your life big even after retiring from work increases the respect that you get from the society or from your family.

Talent should be the criteria for retirement.

1. Passion for work – Most of the employees refuse to retire early as they love to keep their talent alive. They continue to be dedicated and give good output to their work.

2. Growth of company – Allowing retirement to talented employees is a disadvantage for the company's growth. Hence, if the employees are willing to work, their retirement age should be extended.

3. Avoid health issue – There are many active employees who extend their retirement and continue to work. Sitting idle at home bores and may also cause some health problems. Hence, they choose to display their talent rather than considering retirement.

4. Promote the talent – Instead of getting retired early, there are employees who stay in service and train the newcomers well. They try to impart their talent to these freshers which is helpful for the company's growth.

5. Less working hours – When an employee extends his retirement age, he can also reduce the working hours. It will be helpful to reduce stress and strain.

Conclusion

No proposal has been passed till now for the the High Court judges to increase their age of retirement. If employees are willing to serve even after their retirement age or if they wish to extend their retirement, it should be allowed. For employees, who take an early retirement, planning their life in advance will be much beneficial.