Are Health, Stress, And Job Issues Driving People To Opt For VRS? What To Consider Before Early Retirement

Are issues like job stagnation, health problems, stress, and domestic reasons driving some people to opt for voluntary retirement?

Outlook Money
September 25, 2023
Things To Consider Before Early Retirement

Things To Consider Before Early Retirement

The idea of early retirement is common in the private sector. However, a recent media report about a possible spike in voluntary retirement of CRPF personnel has raised questions about whether the reasons for their voluntary retirement from service (VRS) could be linked to job stagnation, health problems, stress, or domestic issues. 



News18 reported on Monday that around seven personnel of the Central Reserve Police Force (CRPF) have taken VRS daily since 2020. It said that overall, 7,840 officers of various wings of the security forces took VRS between 2020 and 2022. In 2020, it was 1,320; in 2021, it was 3,501; and in 2022, it was 3,019. 


Though there is no detailed study by the government to understand the reasons, the forces’ internal review found that job stagnation, health problems, stress, domestic issues, and better opportunities could be the possible reasons, the report added. 


How To Prepare Yourself For Voluntary Retirement 


Remember the following points while taking an early retirement from your job.  


Look For Other Income Options While In A Job: While there is no clear path to growth, if you feel trapped or stagnated in the job, look for another employment or income opportunity if you are planning for VRS. So before taking early retirement, you must decide whether it is another job or a business venture you want to start. Otherwise, it will lead to stress because of your unemployment. 


Get Adequate Medical Coverage: Generally, those in government jobs continue to get medical benefits even after retirement, unlike the private sector employees. So, for private sector employees, it would be prudent to buy a separate health policy from what the company provides so that it continues after you quit. Look for employment where your health is not compromised. One should not ignore buying medical insurance at a young age, as policy premiums increase with age. 


Work On Skills And Stay Socially Connected: If you plan to retire early because of dissatisfaction at work, like in the case of CRPF personnel, it is essential not to leave the job suddenly. It could be stressful. So, acquire new skills or improve the old ones to remain employable after quitting. You may also seek help from your family and social connections to get information on new jobs or learn new skills. 


In a written reply in the Lok Sabha on March 6, 2018, regarding early retirement in the paramilitary forces, the Minister of State for Home Affairs, Kiren Rijiju, said that the government had taken various steps to stop the high attrition rate in the Central Armed Police Forces (CAPFs), which comprises CRPF. The measures include creating transparent policies related to transfer and leaving regular interaction with troops to address their grievances, ensuring adequate rest, providing entertainment and sports facilities, better medical facilities, fair compensation, and other welfare schemes like scholarships for children, among others. 


So, if you are considering VRS, weighing the benefits that would continue post-retirement, the working years left, and the opportunities outside the current job to determine whether a VRS will work in your favour is necessary.  

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