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A.P. Cabinet approves retirement age hike for PSU staff, OPS option for eligible employees

The Andhra Pradesh Cabinet has approved an increase in the retirement age for regular employees in certain Public Sector Undertakings (PSUs), corporations, and societies from 60 to 62 years. This change will be effective retrospectively from January 1, 2022. Additionally, eligible state government employees covered under the Contributory Pension Scheme (CPS) will be given a one-time option to switch to the Old Pension Scheme (OPS). This move is significant as it addresses employee welfare and pension security, impacting a large segment of the workforce.