Review retirement process and age

Review retirement process and age This refers to the well researched article "A case for raising retirement age" (The Hindu Business Line, January 6). The article is comprehensive, covering all major aspects of the issue discussed. Here is an attempt to bring together some action points based on the concluding paragraph of the article, which could be discussed further keeping the present Indian scenario in view : 1) Centre may initiate a debate on the retirement age across government and the organised private sector. 2) As part of regular Human Resources Management, initially central and state governments and PSUs may review the retirement process, keeping employment generation, post-retirement social security and related issues in mind. 3) A model review by the government may cover, among other things : a) Optional voluntary retirement after 20 years of service or 50 years of age. b) Option to be considered for re-employment for appropriate posts based on suitability on contract basis, on mutually agreed terms. c) Option to delay receiving retirement benefits and factoring in loss on such postponement in the remuneration on re-employment. Similar arrangements in varying forms exist in private organisations in developed countries. Time is opportune for India to think beyond traditions in management of workforce. I remember, Dr Raghuram Rajan when he started working in RBI once mentioned that youngsters should look at a 10 year horizon while planning their career. Maybe, he was not impressed by talent getting stagnated in India for decades, without any opportunity for improving productivity, in government offices and banks. M G Warrier Mumbai


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