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Retirement Age
More than one million people in France joined nationwide protests, rejecting the government's proposed pension reform bill that would raise the retirement age from 62 to 64
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Air India on Friday made a voluntary retirement offer for its non-flying staff, the second such offer by the Tata Group after taking control of the loss-making airline in January last year. The latest offer will be available for permanent general cadre officers who have attained the age of 40 years or above and completed a minimum of five years of continuous service at the airline, according to a communication. Also, clerical and unskilled categories of employees who completed a minimum of five years of continuous service will be eligible. The offer will be open till April 30. Sources said that a total of around 2,100 employees will be eligible to avail the latest voluntary retirement offer. Currently, the airline has a staff strength of about 11,000 people, including flying and non-flying staff. In June 2022, Air India launched the first phase of the voluntary retirement offer. There has been a request from employees for extending the additional benefit of voluntary retirement t
French President Emmanuel Macron imposed a highly unpopular bill raising the retirement age from 62 to 64 on Thursday by shunning parliament and invoking a special constitutional power. Lawmakers were shouting, their voices shaking with emotion as Macron made the risky move, which is expected to trigger quick motions of no-confidence in his government. Crowds gathered and riot police vans zoomed by outside the National Assembly, their sirens wailing. The proposed pension changes have prompted major strikes and protests across the country since January. Macron, who made it the flagship of his second term, argued the reform is needed to keep the pension system from diving into deficit as France's population ages and life expectancy lengthens. Macron decided to invoke the special power during a Cabinet meeting at the Elysee presidential palace, just a few minutes before the scheduled vote in France's lower house of parliament, because he had no guarantee of a majority. Prime Minister
Bar bodies led by the Bar Council of India (BCI) have unanimously favoured amending the Constitution to enhance the retirement age of judges of the high court and the Supreme Court to 65 and 67 years respectively. At present trial court judicial officers, HC and SC judges superannuate at the age of 60, 62 and 65 years respectively and especially the bar leaders have been demanding enhancement of retirement age of judges of the higher judiciary. The Joint Meeting of all the State Bar Councils, the office-bearers of High Court Bar Associations and Bar Council of India held last week had discussed the issue with regard to enhancement of age of superannuation of Judges of high courts and Supreme Court. The same was thoroughly considered; and after consideration, the meeting unanimously came to a conclusion that there should be immediate amendment in the Constitution and the retirement age of Judges of high court should be enhanced from 62 to 65 years and the age of superannuation of the
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India is preparing to face the challenges of rising elderly population. Its largest retirement fund EPFO recently backed the idea of raising the retirement age in line with western countries to deal w
The EPFO has almost 60 million subscribers and it has a cumulative pension and provident fund corpus of more than Rs 12 trillion
The Andhra Pradesh government on Monday enhanced the retirement age for its employees by two years to 62.
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He said the coronavirus pandemic had shattered the state's economy and due to an unexpected fiscal deficit, the 11th pay revision was delayed
The Tamil Nadu government enhanced the retirement age of its employees, including teachers and PSU staff
China's retirement age has remained unchanged for more than four decades at 60 for men and 55 for female white-collar workers, even as life-expectancy has risen
That is what age is. The body doesn't know how to heal itself because you weren't supposed to be here in the first place
If you were mis-sold this product with the promise of regular dividend, you should exit it
It also said that policymakers need to prepare for an increasing number of elderly people, estimating there will be 239.4 million Indians over the age of 60 in 2041 against 104.2 million in 2011
The conclusions in the study, "India's Demography at 2040: Planning Public Good Provision for the 21st Century," will have major implications for many companies
It is time for a review of the retirement age and the retirement process in the government and the public sector
Karnataka plans to bring a law to increase the retirement age of employees to 60, which companies say it would hurt the state more as there are millions of unemployed people who would lose out on newer opportunities. The state cabinet has approved the plan to increase the retirement age from 58 to 60 that it expects to come into effect from May. "The new age will mainly affect factories. It is difficult health-wise for the workers to work beyond 58. It also leads to less productivity. The move would have been good had there been a serious shortage of workforce, however, we have a lot of unemployment currently," says BC Prabhakar, president of Karnataka Employer's Association.The association has already sent a letter to the labour minister expressing concerns over the extension of the retirement age. The association says this could lead to delay in promotions for juniors as well as postpone opportunities for those who are unemployed."Unlike 20 to 30 years back, there is a very strong .