Govt rolls back retirement age for NTC employees from 60 to 58

Govt rolls back retirement age for NTC employees from 60 to 58
PRESS TRUST OF INDIA

NEW DELHI, SEPT 23: Government today rolled back the retirement age for employees of the public sector undertaking National Textile Corporation (NTC) from 60 years to 58 years.

Parliamentary Affairs Minister Pramod Mahajan told newsmen after the Cabinet meeting that 4,370 employees would be retired as a result of this measure, which would save the exchequer Rs 62 crore per annum in the Wage Bill.

The roll back would come into effect immediately and the superannuated employees would be given a notice of three months, he said, adding this would be applicable to both board level and below board level employees of the corporation.

Mahajan said the roll back would be applicable for NTC and its nine subsidiary companies.