The authorities of the government have extended the superannuation age of IPO-bound Chairman of LIC, M R Kumar, to up to sixty-two years.
06 July 2021 Current Affairs:The authorities of the government have extended the superannuation age of IPO-bound Chairman of LIC, M R Kumar, to up to sixty-two years by using making amendments to the Life Insurance Corporation of India (Staff) Regulations, 1960. The modifications made in the regulations will be referred to as the Life Insurance Corporation of India (Staff) Amendment Rules, 2021, in accordance with a government notification dated June 30, 2021. It is to be mentioned that the retirement age for the top executives of the majority of PSUs is 60 years, barring a few exceptions, together with the State Bank of India (SBI).