The Ministry of Finance has announced that the mandatory retirement age for employees of state-owned enterprises has been raised to 62 years.
However, if an employee wants to retire, he/she can apply at the age of 57 and should inform the relevant Authority three months in advance.
If the appointing authority decides to terminate the service of an employee whom the authority is not satisfied with his/her performance, the terminating action should be taken after the age of 57 and the employee should be informed six months in advance.
A statement issued by the Ministry of Finance states that if such an employee objects to compulsory retirement/termination, legal action should be taken against that employee.
