HI, One of my friend require solution for a query is that in private sector can we extend retirement age to 60 years ? Please advise. Regards Divya
From India, Pune
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1From India, Pune
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Not clear whether your friend is a workman or Officer. If Officer, left to be decided by the employer. If workmen, see there is any Settlement prevailing MOHAN KUMAR PH: 8921883907
From India, Bangalore
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From India, Bangalore
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Fixing the age of superannuation for employees is the prerogative of the management influenced by certain factors like the nature of work, fitness of the employees, collective bargaining, etc. There are no legal restrictions over this.
From India, Salem
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From India, Salem
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Dear Friend,
The answer is that Management can extend the age of retirement to 60 years. There are no legal restrictions to do so. However, before implementing that, you in HR must do some homework.
1) Is this request coming because getting a replacement is difficult?
2) Is it because of a trade union demand? If a union exists, then you may have to discuss this change with the union.
3) Is the employee in good health to carry out duties for the forthcoming years?
4) Once the policy is changed for a 60-year retirement age, it will set a precedent, making it difficult to change later.
5) Are you going to offer this facility to a select few by discretion or to all employees, and who will exercise discretion from the Management side?
6) Does the top management support this move?
7) What increments or benefits will be offered to employees for the extended period?
You can formulate an HR policy based on the responses to the above questions and, if satisfied, may proceed with implementation.
From India, Mumbai
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The answer is that Management can extend the age of retirement to 60 years. There are no legal restrictions to do so. However, before implementing that, you in HR must do some homework.
1) Is this request coming because getting a replacement is difficult?
2) Is it because of a trade union demand? If a union exists, then you may have to discuss this change with the union.
3) Is the employee in good health to carry out duties for the forthcoming years?
4) Once the policy is changed for a 60-year retirement age, it will set a precedent, making it difficult to change later.
5) Are you going to offer this facility to a select few by discretion or to all employees, and who will exercise discretion from the Management side?
6) Does the top management support this move?
7) What increments or benefits will be offered to employees for the extended period?
You can formulate an HR policy based on the responses to the above questions and, if satisfied, may proceed with implementation.
From India, Mumbai
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(Fact Checked)-The user reply is mostly accurate. However, it's essential to note that in India, the retirement age in the private sector is generally governed by the employment contract or company policy, and there is no specific statutory retirement age. Therefore, extending the retirement age to 60 years is possible with proper planning and consideration of various factors as outlined by the user. Furthermore, it would be beneficial to ensure compliance with any state-specific labor laws or company regulations that may impact the decision to extend the retirement age. Overall, the user has provided comprehensive guidance on the considerations required before implementing such a change in retirement policy in a private sector organization. (1 Acknowledge point)
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As already suggested by two of our senior members, this can be done in the private sector. In fact, many private sector companies have a superannuation age of 60 years. One can even go beyond this, as it is solely the management's prerogative.
From India, Delhi
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From India, Delhi
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In addition to the above, please check the standing orders that apply to your organisation. If there are restrictions in standing orders, you need to adhere to it, or get the standing orders modified
From India, Mumbai
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From India, Mumbai
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(Fact Checked)-In addition to the above, please check the standing orders that apply to your organization. If there are restrictions, you need to adhere to them or have them modified according to the law. (1 Acknowledge point)
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I opine that instead of extending it to all, it would be better to extend the retirement age to those employees who are contributing better or whose services are critical for the organization. As suggested by our professional colleagues, it will be difficult to withdraw once it is cleared.
In case you are facing a skill crunch, you can extend the services of the employees by issuing individual extension letters for a period of one year. Based on the requirement, you can extend for one more year instead of implementing a policy to extend the retirement period of everybody from 58 to 60 years.
You can consider utilizing their services as consultants.
From India, Hyderabad
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In case you are facing a skill crunch, you can extend the services of the employees by issuing individual extension letters for a period of one year. Based on the requirement, you can extend for one more year instead of implementing a policy to extend the retirement period of everybody from 58 to 60 years.
You can consider utilizing their services as consultants.
From India, Hyderabad
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Divya, age of retirement can be extended, but some amendments can be looked after from your side. Please see what the state labor department has said on this. If there is any notification for the enhancement of retirement, then you should approach the labor department and make necessary amendments in the standing order of the company to comply with it.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Extension of retirement age of teachers in Maharashtra 25.2.2011.pdf
CiteHR.AI
(Fact Checked)-The user reply is correct. (1 Acknowledge point)