Move to raise retirement age in sick PSUs

Move to raise retirement age in sick PSUs

Press Trust of India

                As an initiative to nurse back sick PSUs to health, the Government is considering to enhance the retirement age of employees to 60, in companies for which revival schemes have been approved.

                At present, the superannuation age in sick PSUs is 58 years.

                The move to raise the retirement age is in line with the recommendations of the Board for Reconstruction of Sick Enterprises (BRPSE), sources said.

                While the Government has already increased the superannuation age in some of the companies on the revival path, the decisions were on case-to-case basis. “There were no set principles”, an official said.

                However, following the BRPSE suggestions to motivate the employees, who are going to play a critical role in the PSU’s revival, a proper policy will be formulated.

Courtesy: Business Line, 17-08-2011