The government has frozen its decision. To raise the retirement age to 60 years in public sector institutions. A new order has come into effect, freezing the order issued by the Finance Department on October 30. The order directs to stop the further steps related to raising the pension age.
The cabinet had earlier decided to freeze the order. After the left-wing youth organizations criticized the move by stating. That the decision affecting more than one lakh employees was against the job seekers.
At present, the pension age in most PSUs that have only Employees Provident Pension Scheme is 58. On Saturday the government issued an order unifying the pension age to 60 in six financial corporations. And 122 public sector organizations, except KSEB, KSRTC, and Water Authority.