Do future planning before taking VRS, otherwise these difficulties may come

Voluntary Retirement Scheme: Under the Voluntary Retirement Scheme (VRS), employees working in the government and private sector get this facility.

Retirement Planning

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Voluntary Retirement : If you are planning to take Voluntary Retirement Scheme (VRS) after completion of 40 years or after 10 years of service, then first of all you should do future planning for your family, otherwise you will have to face many problems later. may have to face. If you are on premature retirement from service (Retirement) then tell that Voluntary Retirement Scheme (Voluntary Retirement Scheme- VRSUnder this, employees working in government and private sector get this facility. At the same time, in special circumstances, the company itself can give premature retirement to the employee by implementing the VRS scheme.

If the employee himself decides to take VRS, then he has to give notice of this to the appointing authority 3 months in advance and it has to be clarified that he has completed the qualifying service. If you have also made a plan to take VRS, then once before taking a decision, do future planning, so that later you do not have any kind of regret on your decision.

When you take VRS, whatever salary you have received in the last 18 months, equal to 50 percent is given to you for the remaining period of the job. Suppose you get a salary of Rs 1 lakh per month, then for the remaining service of five years, you will be given Rs 30 lakh. Along with this, benefits like gratuity, pension and provident fund will also be paid. Apart from this, there is post-retirement medical cover in all companies, if it is present in your company, then after VRS it will also be applicable for you.

evaluate the situation first

In this case, financial advisor Shikha Chaturvedi says that before taking the decision of VRS, you should evaluate what benefits you will get at the time of retirement and at the time of VRS. If you do not take VRS then how much bonus, increment etc. will you get. From this calculation you will understand whether you should take VRS or not. If you have only 5 or 3 years left in your job, then it is better that you complete it and take a proper retirement.

do planning for the future

Your income may stop after taking VRS. The money you have got during VRS, you have to manage the same and run your work. You should also think about this situation in advance. Therefore, to deal with the financial problem, either find another job beforehand or start a business, so that you do not face financial crunch.

You can invest in these schemes

Before taking VRS, you must make an emergency fund because it takes a lot of time to find a new source of income. In such a situation, you should have enough funds for at least 12 months so that there is no problem regarding the payment of your essential expenses like EMI, premium etc. You can invest the lump sum amount that you will get during VRS, so that you do not face financial crisis in future. For this, you can invest in many schemes like SIP, National Pension Scheme, Senior Citizen Savings Scheme, Post Office Time Deposit, Bank FD etc.

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English News Headline : Employees do future planning before taking Voluntary Retirement Scheme VRS.