Section 13 in National Housing Bank (Officers') Service Regulations, 1997
13. Age of retirement.
- [(1) The age of retirement of an officer employee shall be 60 years, but no extension shall be given to any officer beyond 60 years of age] [Substitued by G.S.R. 213 (E), dated 11th April, 1997 (w.e.f. 11th April, 1997)]Provided that the Bank may, at its discretion, on review by the Special Committee(s) as provided hereinafter in sub-regulation (2) retire on officer employee in public interest on or at any time after the completion of 55 years of age or on or at anytime after the completion of 30 years of total service as an officer employee or otherwise, whichever is earlier.Provided further that before retiring an officer employee, at least three months notice in writing or an amount equivalent to three months pay and allowances, shall be given to such officer employee :Provided further that an officer aggrieved by the order of the Competent Authority, as provided in sub-regulation(2), may within one month of the passing of the order, give in waiting a representation to the Board against the decision of Competent Authority, and on receipt of such representation from the concerned officer, the Board shall consider his representation and take a decision within a period of three months, where the Board decides that the order passed by the Competent Authority is not justified, the concerned officer shall be reinstated as though the Competent Authority has not passed the order.Provided also that nothing in this regulation shall be deemed to preclude an officer employee from retiring earlier pursuant to the option exercised by him in accordance with the rules in the Bank.Explanation. - An officer will retire on the day of the month in which he completes his age of retirement. An officer whose date of birth falls on the first of a month, shall retire on the last day of the preceding month.(2)The Bank shall constitute a special committee(s) consisting of not less than three members, to review, whether an officer employee should be retired in accordance with the first proviso to sub-regulation (1). Such Committee(s) shall, from time to time, review the case of each officer employee on the basis of criteria/guidelines given in annex and no order of retirement shall be made unless the special Committee(s) recommend(s) in writing to the Competent Authority the retirement of the officer employee.
