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Indian Economy - Understanding the basics of Indian economic system

06-Jul-21

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.
Currently, the retirement age for the top executives in majority of PSUs is 60 years.
LIC Chairman : M R Kumar

By: Rohit Middha

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