Retirement Ages of Government Employees across the world

In India, the age of retirement for Central government employees is currently 60 years. The retirement age for State government employees vary from State to State. For example, in the State of Kerala, the retirement age for government employees is 55 years while in the State of Punjab and the State of Assam it is 60 years. Indian laws do not prescribe any retirement age for private organisations. Thus, private organisations are free to decide the retirement age for their employees, which usually is 58 to 60 years. However, in some business houses the retirement age is more than 60 years. The retirement ages of Government employees across the world is given below.

Country	Male	Female	Notes
Australia	65	63	Women's pension age will gradually rise to 65 by 2014 and both will increase to 67 in stages between 2017 and 2023
Austria	65	60
Belgium	65	65
Canada	65	65	The normal pension eligibility is age 65 but an early pension can be claimed from age 60
Chile	65	60
Czech Republic	62	61	Retirement age will be increased for men to 63 years from 2016 and for women without children from 2019 and to age 59 to 62 for women with children (depending on number of children they have raised)
Denmark	65	65	Government propose to raise the age to 67 over an eight year period starting in 2017
Finland	63	63	Under the Employees' Pension Act (TYEL) the retirement age is 63 to 68 years
France	60	60	Will be raised to 62 over the next eight years
Germany	65	65	This will increase to age 67 between 2012 and 2029. It is possible in some circumstances to retire at 63 years
Greece	65	60	There are plans to increase women's age to 65 years
Hungary	62	62	Retirement age will increase to age 65 for men from 2018 and for women from 2020
Iceland	65	65	This is for the public sector. The legal retirement age for private sector employees is 67
India	60	60	There is no fixed retirement age for states Government employees. There is a statutory retirement age of 60 for Central Government servants
Ireland	65	65	There is no fixed retirement age for employees. There is a statutory retirement age of generally 65 for some public servants
Italy	65	60
Japan	60	60	The pension age is gradually being increased to 65, between 2001 and 2013 for men and between 2006 and 2018 for women
Korea (Republic of)	60	60	The pension age is being increased grdually and will reach age 65 by 2033
Luxembourg	65	65	Normal retirement age is 65 but early retirement at 57 is possible
Mexico	65	65	Normal retirement age is 65 years but early retirement is available from age 60
Netherlands	65	65	There are plans to increase the retirement age to 67
NewZealand	65	65
Norway	67	67	60% of employees are entitled to early retirement from the age of 62 years under the early retirement plan, AFP
Poland	65	60	There are some professions that are entitled to earlier retirement such as teachers and armed forces
Portugal	65	65	Early retirement is possible in some circumstances from the age of 55 years
Slovakia	62	57	The retirement age for women is currently increasing to 62 years by 2014 so that both sexes will be equalised
Spain	65	65
Sweden	61	61	The retirement age is flexible, state pensions can be claimed from age of 61 years
Switzerland	65	64
Turkey	60	58	There are plans to increase the retirement age in stages from 2035 to age 65 for both men and women
United Kingdom	65	60	The retirement age for women is being increased between 2010 – 2020 to 65 years. State pension will rise to age 66 in 2024, age 67 in 2034 and age 68 in 2044.
United States	66	66	Increasing to age 67 in stages

Courtesy : http://tkbsen.blogspot.com/

Payment of Incentive to DO(PLI)-Revision there of and the conditions for extension of the tenure of DO(PLI)

Copy of the Directorate letter No. No.25-4/2002-LI, Dated: 25.05.2011

To

All Heads of Circles / All Heads of the Regions / The Addl. DG of APS, C/o 56 APO

The Director, Postal Staff College, Ghaziabad / The Directors, PTCs

The Director of PLI, 7 Koilaghat Street, Kolkata-1 / The Directors/Dy. Directors Accounts (Postal)

The DG, P&T Audit, Delhi / All DDMs (PLI).

Sub: Payment of Incentive to DO (PLI) – Revision there of and the conditions for extension of the tenure of DO (PLI).

Ref: Earlier references on the above subject.

(i) Letter No.25-4/2002-LI dated 22.7.2004, (ii) Letter No.25-4/2002-LI dated 18.03.2005 and (iii) Letter No.25-4/2002-LI dated 14.11.2006.

Reference is invited to PLI Directorate’s letters cited above. The incentive free business for DO (PLI) was last revised under this office letter of even number dated 18.3.2005. The average sum assured of new business in PLI at that time i.e. in 2004-05 was Rs.1.1 lakh. The average sum assured of new business in PLI has now more than doubled to Rs.2.24 lakhs in 2009-10. Accordingly, the incentive free business for DO (PLI) needs to be raised at least in the same proportion. Moreover, during this period, the income of eligible clientele has also gone up considerably on account of revision of pay etc. The matter was, therefore, considered and it has been decided by the competent authority to increase the limit of incentive free business for DO (PLI) from Rs.4 crore to Rs.9 crore.

2. Subsequent to increase in limit of incentive free business as proposed in above para, the revised incentive structure of DO (PLI) would be as under:

Upto Rs.9 Crore of Sum Assured	Nil
Above Rs.9 Crore and upto Rs.11 Crore of Sum Assured	Rs.25/- per Rs. ten thousand of Sum Assured
Above Rs.11 Crore of Sum Assured	Rs.20/- per Rs. ten thousand of Sum Assured

3. Further, under Directorate letter of even number dated 22.07.2004, a DO (PLI) was required to procure a minimum business every year to make him eligible to work as DO (PLI) in the next year. To procure business, DO (PLI) need to familiarize himself/herself with business procurement techniques and also with the eligible clientele. DO (PLI) should, therefore, be appointed for a minimum tenure. It has, therefore, been decided that a DO (PLI) will initially be appointed for a tenure of three years. DO (PLI) would be eligible for extension of tenure in subsequent years as follows:

(a) To get extension for 4^th and 5^th year, the DO (PLI) should have procured

average business of Rs.10 crores in first two years.

(b) To get extension for 6^th and 7^th year, the DO (PLI) should have procured

average business of Rs.12 crores in the 3^rd and 4^th year.

(c) To get extension for 8^th and 9^th year, the DO (PLI) should have procured

average business of Rs.14 crores in 5^th and 6^th year.

(d) To get extension for the 10^th year, the DO (PLI) should have procured

average business of Rs.16 crores in 7^th and 8^th year.

(e) For extension beyond 10 years, the DO (PLI) should procure

minimum business of Rs.20 crores in each year.

4. However, continuation of DO (PLI) in any year as stated in para 3 above, is subject to the condition that the DO (PLI) should have procured business of not less than Rs.9 crores in the previous financial year. For example, a DO (PLI) may get an extension for 6^th and 7^th year as he procured average business of Rs.12 crores in the 3^rd and 4^th year. However, if at the end of the 5^th year if the DO (PLI) has procured a business of less than Rs.9 crores in the 5^th year, the DO (PLI) would be terminated immediately thereafter notwithstanding the fact that he was earlier given an extension of tenure for the 6^th& 7^th year. Circles should, therefore, evaluate the performance of the DO (PLI) within two months of the close of the previous financial year and in case, it is found that the DO (PLI) has procured a business of less than Rs. 9 crores in the previous financial year, he should be terminated immediately thereafter.

5. DO (PLI) procuring business exceeding Rs.25 Crores in a year would be designated as Sr. DO (PLI) and would be provided additional facility by way of infrastructure support and training in specialized Marketing and Insurance Institutes.

6. These orders would be applicable from current financial year 2011-12.

7. This issues with the approval of the competent authority.

( HenaUsman )

Addl. General Manager (PLI)