BENGALURU: The government’s decision to enhance the age limit for retirement of employees in the private sector from 58 to 60 years has come into effect with the Labour Department issuing the final notification. The move will benefit about 21 lakh employees in private sector.
The notification will bring special joy for those who were set to retire from service this March-end as they will get two more years of service.
The notification gives effect to the amendment to Schedule-1 of Karnataka Industrial Employment (Standing Orders) Rules, 1961, which pertains to retirement age. The draft notification was issued by the department on December 7, 2009.
The new rule will not apply to IT, IT-enabled Services, startups, BPO and other knowledge-based industries at least till January 25, 2019. The government has exempted these industries from the Karnataka Industrial Employment (Standing Orders) Rules 1961, till this date.