Kerala unifies retirement age of PSU employees, brings in measures to improve performance


Kerala Minerals and Metals Limited (KMML), Chavara | Mathrubhumi

Thiruvananthapuram: Kerala government on Monday unified the retirement age of the employees in the public sector undertakings to 60. It also announced a slew of measures to improve the performance of the companies.

Different PSUs had different retirement ages so far. The decision to unify them is not retroactive, so former employees will not get this benefit. The decision is based on the recommendations of an expert committee.

In addition, promotion and transfer will bebased on performance.

The PSUs will be graded as A, B, C and D. The best-performing institution will be in the ‘diamond category’ or the A group. Total value, income, sales, strength of staff and other factors will be considered for the grading.

The grading will be reviewed every three years by the Public Enterprises Board. The institution must apply for grading. It is mandatory.

Salary and other benefits will vary depending on the institution's grade. With this, the payment will be unified across all institutions as per its category.

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