I have just joined the HR department as an HR Management Trainee. I have drafted a Retirement Policy for a Pharma company. I need to know if I have to delete or add anything, and also please correct me if there are any mistakes.
From India, Mumbai
Acknowledge(0)
Amend(0)
2From India, Mumbai
Acknowledge(0)Amend(0)
Hi Mearl,
Let me appreciate your efforts in drafting the policy. As a trainee, you have done the job far better than expected. Any policy should cover as many details as possible. For instance, the age eligibility can be written as, "Employees who attain the age of 58 as per the date of birth recorded in the HR system." In India, we often see discrepancies in date of births, where the original date of birth differs from what is shown on the certificate. It would be helpful to clarify this.
"Aims" can be written as "Objectives."
Do you have any guidelines for early retirement? For example, if an employee reaches 56 years and wishes to retire, is there a process in place for this?
Could you create a quick FAQ section for this policy? When drafting FAQs, consider questions from the employees' perspective to ensure comprehensive coverage. Policies with FAQs are more accessible to employees.
Regarding benefits, it would be helpful to list the benefits that will not cease. If not, please mention that benefit entitlement details will be provided along with the retirement package email.
I appreciate the process workflow (Notification > Application > Assessment > Contractual Reappointment).
Could you provide more details on how compensation and benefits will be handled if an employee continues to work past the retirement age? Employees may have questions about this.
Good work.
Regards,
Thiyagu
From India, Bengaluru
Acknowledge(0)Amend(0)
Let me appreciate your efforts in drafting the policy. As a trainee, you have done the job far better than expected. Any policy should cover as many details as possible. For instance, the age eligibility can be written as, "Employees who attain the age of 58 as per the date of birth recorded in the HR system." In India, we often see discrepancies in date of births, where the original date of birth differs from what is shown on the certificate. It would be helpful to clarify this.
"Aims" can be written as "Objectives."
Do you have any guidelines for early retirement? For example, if an employee reaches 56 years and wishes to retire, is there a process in place for this?
Could you create a quick FAQ section for this policy? When drafting FAQs, consider questions from the employees' perspective to ensure comprehensive coverage. Policies with FAQs are more accessible to employees.
Regarding benefits, it would be helpful to list the benefits that will not cease. If not, please mention that benefit entitlement details will be provided along with the retirement package email.
I appreciate the process workflow (Notification > Application > Assessment > Contractual Reappointment).
Could you provide more details on how compensation and benefits will be handled if an employee continues to work past the retirement age? Employees may have questions about this.
Good work.
Regards,
Thiyagu
From India, Bengaluru
Acknowledge(0)Amend(0)
Can anyone help me with what is the retirement age for a private limited company? One of the employees wants to take a loan, and the bank is asking for a letter stating the retirement age of 60 years from the company. Kindly assist.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Mearl,
Greetings,
The attached retirement policy is effective for employees whose age is 58 years. However, if after 20-25 years of service and at the age between 50-55, what is the policy and security of money that governs?
The extension of services is effective, but very few establishments and employees benefit from it. This is just for HR practices purposes.
Lastly, it is required to make a very effective policy. This is my first paragraph.
Thanks and regards,
Santosh Kumar Sharma
(In HR Establishment Cell in a Cement company)
From India, Bareilly
Acknowledge(0)Amend(0)
Greetings,
The attached retirement policy is effective for employees whose age is 58 years. However, if after 20-25 years of service and at the age between 50-55, what is the policy and security of money that governs?
The extension of services is effective, but very few establishments and employees benefit from it. This is just for HR practices purposes.
Lastly, it is required to make a very effective policy. This is my first paragraph.
Thanks and regards,
Santosh Kumar Sharma
(In HR Establishment Cell in a Cement company)
From India, Bareilly
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Register and Log In.
Retiremnet policy-Draft.do c