A government-appointed expert committee on pension reforms has recommended hike in retirement age in private sector to 60 years, in a move with considerable repercussions for employment plans and post-retirement benefits.
The recommendation is part of a package of changes the panel has suggested to Employees Pension Scheme-1995 — raising retirement pension to a minimum of Rs 1,000 from a lowly Rs 350-400, and of the wage ceiling for EPS from Rs 6,500 to Rs 10,000. The two moves are supposed to better reflect the real value of money.
Our comments: There are rumours in BSNL that retirement age is going to be reduced to 58. Retirement age for our BSNL is fixed after presidential orders, Even the govt. appointed expert committee on pension reforms has recommended retirement age in private sector to be 60. Read further.....
Raise-retirement-age-in-pvt-sector-to-60-Panel
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