Many officers may be forced to retire young….
KOCHI: A correction please, dear CSB officers; your retirement could happen any time after you attain the age of 50, and not 58 as reported earlier.
Even as the officers of Catholic Syrian Bank (CSB) are struggling to digest the management’s decision two months back lowering the retirement age of officers from 60 to 58, they have been dealt a sucker punch as the compulsory retirement can now take place any time after 50.
A recent circular signed by the HR head has said that officers of the bank will be put through a one-time review after they attain the age of 50 and thereafter every year after the age of 53. The management will obviously, exercise its discretion whether to retain that officer or not depending on his ‘efficiency to function’ at the bank.
“One Time Review of Performance by Special Committee on completing 50 years of age and thereafter Yearly Review on completion of 53 years” – is what the process is endearingly called.
Board of directors of CSB has decided to introduce the mechanism for reviewing the performance of all officer employees on completion of 50 years of age and thereafter, the review will be on yearly basis after 53 years of age, according to the circular.
“His/ Her continuance in the service up to the age of 58 shall be subject to the officer employee’s service being found suitable to be retained in service. The purpose of review is to identify officers, who are no longer fit to continue in service in view of deterioration in quality of work, conduct, physical or mental health or if their efficiency is found to have been impaired,” the circular clarified.
The managing director & CEO has been empowered to constitute a Special Committees to review and identify, whether an officer employee should be retired in accordance with the review mechanism carried out by the committee.
However, the officer employee found non-competent will be given a chance for personal representation, before the Competent Authority finalises its decision to show him the door.
The officer employee will be entitled to prefer an appeal before the Board of Directors against the decision of competent authority within 30 days of receipt of the order.