Press briefing of Cabinet Decision taken on 2021-10-11

Legalizing the Minimum Age of Retirement for the Private Sector Employees

- Approval of the Cabinet was granted at its meeting held on 2021‑03‑23 to draft a Bill to revise the existing age limit of retirement for the Private Sector employees. As such, the drafted preliminary Bill was taken up for further discussion at the meeting of the Committee for the study of policy and legal matters affecting the apparel industry and trade sector appointed under the patronage of the Hon. Prime Minister with the participation of all the relevant stakeholders. As such, up on the consensus reached at the meeting of the said Committee, the proposal made by the Minister of Labour to submit the Minimum Retirement Age of Workers in the Private Sector Bill drafted by the Legal Draftsman, incorporating the provisions enabling to extend the age of retirement of workers who have not reached 52 years on the effective date of the proposed Act up to 60 years and to employ the workers of 52 years or above on the effective date of the Act, up to the maximum of 59 years under three categories in terms of their age, in Parliament, was approved by the Cabinet.