The latest offer will be available for permanent general cadre officers who have attained the age of 40 years or above and completed a minimum of five years of continuous service at the airline, according to a communication.
Air India decreased the eligibility age from 55 to 40 and announced a monetary incentive on Wednesday, ostensibly to encourage a significant number of its staff to voluntarily retire.
Bureaucrats seeking voluntary retirement can now hope to see their requests acted upon within a set time frame under new service rules unveiled by the Centre.
Ashvin Parekh, partner, national leader-global financial services, Ernst & Young spoke to CNBC-TV18 about what the PFRDA Bill contains and what it must contain.