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Our Bureau

New Delhi, July 12 The retirement age of employees of profitable Central public sector undertakings (PSUs) is likely to get extended from 58 to 60.

The Cabinet today gave approval to empower the Ministers concerned in various administrative Departments to enhance the retirement age of employees from 58 to 60 years.

In order to qualify for this, the PSUs should have posted profit and positive net worth in the previous three financial years.

This benefit would be restricted to PSUs that have not taken Budgetary support in the last three years for their non-Plan expenditure for salary, wages, payment of statutory dues, payment for voluntary retirement/separation schemes and payment to meet cash losses.

No Budgetary support for the same will be availed by the PSUs in future, according to an official release.

More Stories on : PSU | Human Resources

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