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The government is actively considering raising the retirement age of all central government employees, including those in the armed forces, from the present 60 to 62 years.
Finance Minister Pranab Mukherjee has submitted a report to the prime minister outlining all the pros and cons of the move, including the ?cascading effects? on government employment and the huge savings, at least for two years, on account of retirement payouts. The government's decision to rise the retirement age is advantageous in view of administrative restructuring suggested by 6 thh Pay Commission recommendations.