19 May 2012

Retirement Age in HMT

The age of superannuation in most of the Central Public Sector Enterprises (CPSEs) is same as for Central Government Employees i.e. 60 years. However in some CPSEs (mainly sick and loss making) the age of superannuation is 58 years. 

As per DPE guidelines dated 20th April, 2007, HMT Limited and its subsidiaries excluding HMT International Limited are not eligible for enhancement in the age of retirement as these companies do not qualify as per DPE guidelines. However, a proposal for increasing the age of retirement of the employees of HMT Limited from 58 years to 60 years has been incorporated in HMT Limited’s proposed revival plan. 

The above information was given by the Minister for Heavy Industries & Public Enterprises Shri Praful Patel in a written reply in the Lok Sabha today.

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