To Study the Impact of Voluntary Retirement Schemes over the Health of VRS opted Employees in India

Initially, the concept of Voluntary Retirement Scheme has been introduced to offer the employees an option for early retirement. However, due to protectionist labour laws and cost competitiveness, the voluntary retirement schemes have been implemented by corporate world extensively to restructurethe workforce. Consequently, the voluntary retirement schemes have influenced the lives of VRS opted employees in different dimensions including health. However, very few studies have analysed the impact of VRS over the health of the VRS opted employees. Hence, the present study. Further, an in-depth comparative study has also been done to analysed the impact of VRS over the health of VRS opted employees in public and private sector in selected large steel manufacturing organizations in India.Thus, altogether 310 VRS opted employees have constituted the sample of study. Primary data is collected through a specially designed schedule. It has been found in the study, that, most of VRS opted employees have experienced an increased in their physical problems after opting VRS.Although, in comparison to private sector, more VRS opted employees of public sector have considered VRS, a cause for impairment of their health and reported increased physical problems in their post VRS life.