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Raise retirement age to 58: Expenditure panel

Raise retirement age to 58: Expenditure panel

Thiruvananthapuram: The Kerala Public Expenditure Review Committee has recommended that the retirement age of government employees should be hiked from 56 years to 58 years.

The committee report, tabled in the assembly on Tuesday, said the retirement age of employees of private aided educational institutions and autonomous bodies like universities should also be raised to 58 years.

With the government and autonomous bodies like KSRTC and universities are heading towards a pension payment crisis, the committee headed by B.A Prakash has recommended constituting a compulsory saving scheme to mobilize funds for payment of pension.

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