In recent updates, according to PTI center has extended the age of superannuation of IPO bound LIC Chairman to up to 62 years. Earlier this year, Finance Minister Nirmala Sirtharaman in her budget speech said that IPO of LIC will be floated as a part of Rs 1.75 lakh crore disinvestment plan.
Amendments made by GOI to extend retirement age of LIC chairman
The government made amendments in the Life Insurance Corporation of India Regulations, 1960. Notably, the retirement age of the executes in most of the PSUs is 60 years.