An arbitrary policy decision will lead to policy failure. Raising the Retirement Age - The wrong direction for Social Security, by Christian E. Weller is another paper, which explains the pros and cons of the change in the retirement age. India's reforms have really changed the scenario from that of certainty to uncertainty in government employment, job security, honesty to uncertainty, private sector as employer, unsecured job, dishonesty respectively. All public sector units have started posting the losses. The loss making units are unable to pay the salaries and other dues.
Government offices are devoid of work etc.
This scenario is unlikely to change soon. The reforms on removal of babus are welcomed but those who admire such decisions have really not given enough thought about its consequence, as it would be pernicious to socio-economic situation in the country. The beneficiaries of increased age from 58 to 60 have already availed and such people advocate that normal retiring age be reduced to 58 years, the rational is simple why should other get the benefits that one has already got. Those who are likely to be affected by reverting the age from 60 to 58 feel that it is injustice to them as particular group of people were given the benefits. Let us have a look on employment in the government as shown in the table below.