A total of approximately 11,800 government sector employees, including teachers, are expected to conclude their service and retire today in Kerala. The current figure follows a pattern seen in previous years, with 11,100 and 9,205 individuals retiring in May 2022 and May 2021, respectively.
The reason for this significant number retiring on the same day is attributed to the conventional practice of listing May 31 as the date of birth in school entry records.
The government has said to announce benefits for all the eligible retirees. Moreover, the estimated cost for these benefits is approximately Rs 3,000 crore. However, the government is not required to release the entire amount in one go. The disbursement of benefits is based on approval from the accountant general, ensuring a regulated process.
Echoing this, Finance Minister KN Balagopal affirmed that the customary procedures are in effect to distribute the retirement benefits.
According to the eleventh pay revision commission report, an astounding 21,063 individuals are expected to retire in the state this year. This considerable figure signifies that nearly half of the entire retirement pool will be saying their farewells to their careers today.
The average annual retirement rate is typically around 20,000 individuals. However, government data indicates that in the year 2027, the state is expected to witness a higher-than-average number of retirements, with a projected total of 23,714 individuals retiring during that year.
