Retirement age of profit making CPSEs hiked from 58 to 60 years

By Staff
|
Google Oneindia News

New Delhi, Apr 12 (UNI) The Union Cabinet today gave its approval for enhancement of retirement age of employees of profit earning Central Public Sector Enterprises from 58 years to 60 years.

The decision empowers the concerned administrative Ministries and Departments to approve the proposal of CPSEs for enhancement in the age of retirement from 58 to 60 years in respect of employees in the Board and below Board levels with the consent of the Minister-in-charge.

Briefing newspersons on the outcome of the Cabinet meeting, Information and Broadcasting Minister Priya Ranjan Dasmunsi said the CPSEs concerned should as per its audited annual accounts have made et profits for the last three years continuously and should have a positive net worth in the year previous to the year under consideration.

Besides, the CPSE should not have availed budgetary support for the last three years towards salary, wages, and statutory dues of its employees and no budgetary support would be availed by the CPSE in future as well.

The proposals on retireemnt need to have been approved by the Board of Directors of the CPSEs concerned and have the concurrence of the Finanical Advisers of the concerned administrative Ministries and Departments.

UNI

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