Regarding retirement day
Respected sir, I have a query about the day of retirement. For example, if an employee turns 60 on 6th June, what date should he be relieved from services considering 60 as the retirement age? Will it be 5th June or 30th June?
From India, Bangalore
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2Respected sir, I have a query about the day of retirement. For example, if an employee turns 60 on 6th June, what date should he be relieved from services considering 60 as the retirement age? Will it be 5th June or 30th June?
From India, Bangalore
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Retirement Date Calculation
As per calculation, it should be 5th June (after completion of business hours) if the date of birth is 6th June. However, many organizations have a culture to retire at the last date of the month if the date of birth is from the 2nd of a month to the 1st of the following month.
Regards, S K Bandyopadhyay
From India, New Delhi
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As per calculation, it should be 5th June (after completion of business hours) if the date of birth is 6th June. However, many organizations have a culture to retire at the last date of the month if the date of birth is from the 2nd of a month to the 1st of the following month.
Regards, S K Bandyopadhyay
From India, New Delhi
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Retirement Date Considerations
As the employee turns 60 on 6th June, the effective date of retirement would be 7th June. If you execute retirement on 5th or 6th June, that will fall short of the retirement age by 1 or 2 days. In this situation, the incumbent may take legal steps against the company. If your management wants to avoid making fractional payments to the incumbent, you may choose to effect the retirement from the first day of July, which would be considered a humanitarian gesture.
Regards,
Md. Ariful Islam
HR Professional
Pharmaceutical Industries, Bangladesh
From Bangladesh, Dhaka
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As the employee turns 60 on 6th June, the effective date of retirement would be 7th June. If you execute retirement on 5th or 6th June, that will fall short of the retirement age by 1 or 2 days. In this situation, the incumbent may take legal steps against the company. If your management wants to avoid making fractional payments to the incumbent, you may choose to effect the retirement from the first day of July, which would be considered a humanitarian gesture.
Regards,
Md. Ariful Islam
HR Professional
Pharmaceutical Industries, Bangladesh
From Bangladesh, Dhaka
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Normally, an employee will retire on the last day of the pay month. This has been a practice for various companies over many years. Therefore, if the retirement age is reached on the 6th of June, the employee will remain in service until the 30th of June.
From India, Kannur
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From India, Kannur
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Dear Mr. Md. Ariful Islam, I would like to mention that if someone's birthday is on 6th June, the person will complete one year on 5th June, considering both days. On any birthday, the person is always one year and one day old, not just one year. Therefore, the calculation you have shown is not appropriate. Please check it once again, and if possible, consult with an expert. Arithmetically and legally, it is correct based on my earlier posts and the present one.
Thanks & Regards,
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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Thanks & Regards,
S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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The illustration given by Mr. S K Bandyopadhyay is perfectly correct arithmetically. However, the view expressed by Mr. Madhu is a standard practice followed in many companies.
I would also like to mention that a few big companies go a step further. For example, one of the leading auto majors in India, now an MNC, has a system where retirement dates are set as the last date of every quarter, namely 31st March, 30th June, 30th September, and 31st December every year. Those staff members whose retirement age falls between 1st January and 31st March shall retire from service on 31st March, and likewise in the remaining three quarters.
From India, Aizawl
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I would also like to mention that a few big companies go a step further. For example, one of the leading auto majors in India, now an MNC, has a system where retirement dates are set as the last date of every quarter, namely 31st March, 30th June, 30th September, and 31st December every year. Those staff members whose retirement age falls between 1st January and 31st March shall retire from service on 31st March, and likewise in the remaining three quarters.
From India, Aizawl
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(Fact Checked)-The user's reply is correct in mentioning the practice of some companies setting retirement dates as the last day of each quarter based on the employee's birth month. (1 Acknowledge point)
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As per gerenal HR practice, Last day of paymonth/paycycle will be retirement day of individual’s either he serve one day or whole period.
From India, Gurgaon
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From India, Gurgaon
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Retirement Date for Teaching Staff
For the teaching staff in schools and colleges, the retirement date is extended until the academic year ends. Therefore, if the actual retirement date of a teacher in a government-aided school in Kerala is in June or July, they will be relieved only on the 31st of March of the following year.
From India, Kannur
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For the teaching staff in schools and colleges, the retirement date is extended until the academic year ends. Therefore, if the actual retirement date of a teacher in a government-aided school in Kerala is in June or July, they will be relieved only on the 31st of March of the following year.
From India, Kannur
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Deferring the relieving date
Deferring the relieving date to the end of the month, quarter, or academic session is only a matter of convenience. In large organizations, there would be a retirement day every now and then.
Clear-cut policy necessity
As for the query, it is necessary that the organization lays down a clear-cut policy in this regard. The options have already been discussed in the earlier responses.
From India, Mumbai
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Deferring the relieving date to the end of the month, quarter, or academic session is only a matter of convenience. In large organizations, there would be a retirement day every now and then.
Clear-cut policy necessity
As for the query, it is necessary that the organization lays down a clear-cut policy in this regard. The options have already been discussed in the earlier responses.
From India, Mumbai
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(Fact Checked)-The user reply is correct. It highlights the importance of having a clear policy for retirement dates. Well done! (1 Acknowledge point)
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