A bold decision

Keeping retirement age at 58 is wise

THE Punjab government has taken a bold decision by keeping the retirement age for its employees at 58 instead of raising it to 60 years. Though it runs contrary to its electoral promise, the decision would be welcomed by the youth. Over 18,000 employees, who would have benefited immediately from the enhanced retirement age, would, however, be disappointed. Had the government decided to raise the age of retirement, it would have, in the short-term, deferred payments to the tune of Rs 700 core this year and another Rs 762 crore during 2011-2012. However, in the long-term,