Thiruvananthapuram: The Kerala government on Monday raised the pension age in public sector institutions to 60 years.
With this move, the pension age will now be uniform across all public sector institutions.
However, three institutions are exempt from this rule - Kerala State Road Transport Corporation (KSRTC), Kerala State Electricity Board (KSEB), and Water Authority.
The government also decided to categorise public sector institutions as class A, B, C and D based on their performance record.
Future salary and wage revisions will henceforth be based on this grade.
Institutions that are on the growth track will be classified with higher grades, while others that don't meet the standard will be downgraded.
To get the classification, institutions have to apply via the Public Enterprises Board.
Those who do not apply will be given grade D by default.
These grades will be revised once every three years.
It is based on this that the pay structure of the CEO, the MD and other employees will be consolidated.
The government has also decided to enforce salary parity in public sector institutions.
