According to an official spokesman, this notification has been issued as per the decision of Punjab Cabinet taken on August 28 this year.
He said this notification would be applicable to all Group A, Group B, Group C and Group D employees.
The notification mentions that this option has to be submitted to the Head of Departments at least three months before the date of retirement of the employee and option can be submitted till the date of retirement.
Once submitted, the option will be final and would not be allowed to change, he clarified.
According to notification, during the extended period of service, a government employee shall be entitled to pay equal to the pay last drawn by him/her on the date on which he/she attains the age of 58 or 60 years as the case may be.
The spokesman said that however, if a promotional post is available, he/she shall be eligible for consideration for promotion against that post and on promotion his pay shall be fixed under the relevant rules.
The notification mentions that the employees opting for extension would get all pensionery/retirement benefits after completion of extension period.