RAISING RETIREMENT AGE IN SICK CPSES
There is no proposal under consideration to enhance the age of superannuation from 58 years to 60 years for employees of sick and loss making Central Public Sector Enterprises (CPSEs) including Fertilizers and Chemicals Travancore Limited (FACT).
(c) : The Trade Union and Officers Association of FACT Limited have been demanding enhancement of retirement age from 58 to 60 years in various meetings with the Management. Petitions from employees of FACT Limited seeking enhancement of retirement age 60 years have been received. However, FACT Limited does not meet the criteria laid down by the Government for enhancement of retirement age from 58 years to 60 years.
(d) and (e) : The Board for Reconstruction of Public Sector Enterprises (BRPSE) has been directed to undertake in depth examination of the impact of increase in retirement age on the implementation of revival package of the concerned CPSE and ensure that the issue of the enhancement of age of superannuation from 58 to 60 years is adequately addressed while examining/recommending proposals for revival of sick/loss making CPSEs so that the revival package has specific recommendation in this regard. The recommendation(s) of BRPSE, if any, for enhancement of age of superannuation from 58 to 60 years are to be conveyed to the concerned Ministry/Department for obtaining the approval of competent authority. BRPSE has received complete proposals for enhancement of age from 58 to 60 years in respect of 3 sick CPSEs namely
(i) National Textile Corporation Limited (NTC),
(ii) National Project Construction Corporation Limited (NPCC), and
(iii) Brahamputra Valley Fertilizers Corporation Limited (BVFCL) from their concerned administrative Ministries/Department. BRPSE has considered these proposals and recommended enhancement of retirement age in NTC and NPCC and has not recommended enhancement of retirement age in the case of BVFCL.
The above information was submitted as written reply to a question in Parliament on 7th July 2014.