The Central Government has given a big relief to the employees. In fact, the dispute going on since 2014-15 has finally been ended and the retirement age of IIM directors has been increased to 5 years i.e. now IIM directors will also be able to serve till the age of 70 years.
The Center has raised the retirement age for directors of Indian Institutes of Management (IIMs) by five years to 70 years, which is at par with Indian Institutes of Technology (IITs) and universities. In fact, the retirement age for IIM directors has been increased from 65 to 70 years, and the age limit for applicants has been removed.
An April 7 notification issued by the Union Ministry of Education has allowed amendments to the 2018 Indian Institute of Management (Amendment) Rules for this purpose. It aims to enable directors to make institutions last longer and ensure greater stability in administration.
Earlier there was a provision in the original IIM rules which stated “The age of the applicant for the post of director should not exceed 60 years on the first day of January of the year of advertisement for the post. This rule has been removed with ministry notification
Following the recommendations of a committee, the Ministry of Education formally proposed it in 2018. Apart from institutional stability, it was pointed out that, since IIT directors can serve for 70 years, equality for all national institutions should be sought. Vice-Chancellors of Central Universities can serve till the age of 70 years.
The move was pending for years and was the subject of much debate both within and outside the government. However, the debate on this issue is going on since 2014-15. But then the Department of Personnel and Training did not accept the request of the Ministry at that time. As per the announcement, IIM directors, who are normally appointed for five years, will be able to serve till they reach the age of 70.
Earlier there was a demand that the retirement age for IIM directors should be brought in line with that of IIT directors and vice-chancellors of a central university, who can serve till the age of 70 years. Applicants must be less than 60 years of age (IIT Director) and less than 65 years (Central University Vice Chancellor), but there is no hard and fast rule.
It was formally proposed by the Ministry of Education in 2018 following the recommendations of a committee. Apart from institutional stability, it was pointed out that since IIT directors could serve up to 70, it was natural to demand equality for all institutions of national importance. Even vice-chancellors of central universities can continue till the age of 70.
