Government extends superannuation age of LIC Chairman to up to 62 years
- The government has extended the superannuation age of Life Insurance Corporation of India (LIC) Chairman to up to 62 years, as against the current 60 years.
- This new change has been announced after making amendment to the Life Insurance Corporation of India (Staff) Regulations, 1960.
- Now, the rules will be called the Life Insurance Corporation of India (Staff) Amendment Rules, 2021.
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Currently, the retirement age for the top executives in majority of PSUs is 60 years.
- LIC Chairman : M R Kumar
Source: Business Standard