In Kerala, the retirement age for employees working in cooperative societies and related institutions has been a subject of policy discussions and reforms over the years. While the standard retirement age for most government employees in Kerala is 60 years, cooperative employees have historically had a lower retirement age.
Current Retirement Age
As per the latest available information, the retirement age for employees of cooperative societies in Kerala is 58 years. This is notably lower than the 60-year retirement age applicable to most state government employees. However, recent developments indicate a potential shift in this policy.
Proposed Reforms
In 2024, a government-appointed committee recommended raising the retirement age for cooperative employees from 58 to 60 years. This proposal aims to ease the financial burden on the pension board, which operates a self-reliant pension scheme without government contributions. The committee also suggested increasing employee contributions to the pension fund from 12% to 15% of their basic salary and dearness allowance. @mathrubhumi
Special Provisions for Part-Time Contingent Employees
Part-time contingent employees in the government sector, including those in cooperative societies and banks, have a higher retirement age of 70 years. This adjustment was made to align with the retirement age of part-time contingent employees in the government sector. Cooperation Kerala
Conclusion
While the standard retirement age for cooperative employees in Kerala remains 58 years, ongoing discussions and recommendations suggest a move towards aligning it with the 60-year benchmark set for other state government employees. The proposed reforms, if implemented, could provide cooperative employees with extended service years and potentially more robust pension benefits. However, these changes are subject to government approval and legislative processes.
For the most current information, employees and stakeholders are encouraged to consult official government notifications and the Kerala State Co-operative Employees’ Welfare Board.
