The retirement age of State Enterprise Employees has been extended to 57 years from 55 years with effect from 01st of May this year the The Policy And Research Unit of the Presidential Secretariat has announced today.
According to this decision an Employee in a State Enterprise can be in the service till age of 57 without seeking a service extension.This new retirement age only applied for those employees in state enterprises whose retirement age has been specifically determined through a Parliamentary Act according to the Research Unit of the Presidential Secretariat.
Also the state employees who have reached the age of 55 are permitted to retire voluntarily.If an employee retired voluntarily from the state service he/she will received the benefits of Employees Provident Fund(EPF) and the Employees Trust Fund (ETF) the sources said.The circular regarding the new law has already issued by the Treasury Secretary.