Compulsory retirement age for SOEs revised to 60

The government approved the compulsory retirement age of employees serving in State-Owned Enterprises (SOEs) to be revised to 60 years.

The compulsory retirement age was announced during the Supplementary Budget 2022, which was passed by Parliament.

The proposal was submitted by President Ranil Wickremesinghe as the Finance, Economic Stabilization and National Policies minister in order to issue a circular notifying this with effect from January 1, 2023. (Chaturanga Samarawickrama)