2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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56
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68
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62
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50
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Detailed explanation-1: -According to a gazette notification, if a chairman is appointed for a term that exceeds 60 years of age, he won’t superannuate till he completes the term or till he turns 62. Earlier, the government extended LIC Chairman MR Kumar’s term till March 2022.
Detailed explanation-2: -According to OECD’s ‘Pensions at a Glance 2021’ report, the global average retirement age for a man working from the age of 22 was 64.2 years in 2020. This is expected to increase to 66.1 years by 2064 for people entering the work force after 2020.
Detailed explanation-3: -The recommendation of the Fifth Central Pay Commission was accepted by the Government and it was decided to increase the age of retirement of Central Government employees from 58 years to 60 years.
Detailed explanation-4: -At some places it is 58 years while at others it is 60 years. In many companies it is even more. He said that in EPFO, pension can be taken at 58 years and 60 years. The rule pertaining to this was passed in 2015, Jalan said.