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According to the UN Population projections, India’s and China’s dependency ratios will be equal, at 44.6, in 2032. However, this ratio then starts to go up for China in leaps and bounds and by 2050, it’ll be at 69.1 percent, while India’s is projected to be a much lower 48.1 percent at that time
The change will take place over 15 years starting January, and will allow more people to work longer. This could boost productivity, although it risks adding to public discontent with the economy growing at the worst pace in five quarters.
The plan was to raise the retirement age of the SBI chairperson from 63 to 65 years and that of PSB MDs to 62 from 60. SBI chairman Dinesh Khara turns 63 on August 28
An extension in retirement age of judges will ensure those with greater experience and appropriate calibre stick around longer and help reduce the huge number of cases pending before the higher judiciary
Macron said "this changes were needed to guarantee everyone's pension," after he enacted the pension law on Saturday.
France's constitutional court on Friday approved Macron's widely unpopular pensions plan, which has sparked months of protests and strikes.
However, this will not be applicable to those employees who have already retired in accordance with the prevailing rules.
Forget EPFO’s pay-out problems. Planners need to focus on a rapidly aging society
This is done to make sure the viability of the pension system within the country and supply sufficient retirement advantages, the report added.
Among other decisions, the Board has inducted Brijesh Patel and MKJ Majumdar in the IPL Governing Council.
"No Sir. Presently, there is no proposal to reduce age of retirement on superannuation from 60 years to 58 years," Minister of State for Personnel Jitendra Singh said in a written reply to Lok Sabha.
Since an increase in the retirement age is perhaps inevitable, the Survey has recommended that the change should be signalled at least 10 years before the anticipated shift.
There are about 5 lakh regular government employees in the state
The matter was under consideration of the state government for past many months and was discussed in the cabinet on two separate occasions.
Besides, the CBT in this meeting will also deliberate on a proposal to withdraw two years bonus under the pension scheme provided to subscribers after rendering 20 years of pensionable service.
In an attempt that may save of Rs 7,000 crore to the exchequer, the Centre is believed to be mulling extending the retirement age of government officials, reports CNBC-TV18‘s Siddharth Zarabi.
Retirement age is as much in the mind, as in business practice. The idea that a life consists of three components of predetermined length - growing up, working, and resting after work - is deeply embedded in our psyches and personal finances. It has been, and remains the standard pattern of a human life.
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.
The government today said there is no proposal to raise the retirement age of its employees from 60 years at present.
