Uti Cuts Retirement Age To 58

The Unit Trust of India (UTI) is reducing the retirement age of its employees from 60 to 58. The new norm, approved by the UTI board today, takes immediate effect, cutting short the careers of half a dozen senior UTI officials, including senior-most executive director K.G. Vassal and a few chief general managers like A.G. Joshi, S.S. Hedge and P. C. Gupta.

Another senior executive director who could have been affected by the new norm -- B G Daga -- has already sought premature retirement.

At today