Thanks,Kavitha for refferal,The descrimination is percieved to be around every one.This is an integral component of human psychology,one learns when,you face the heat.Mr Vijay must forget all these things as retired person losses much more than a pay check.He losses a sense of power and accomplishment and a loss of personal identity that is difficult to replace late in life. Mr Vijay,Enjoy retired life without rancour.
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Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer
| 04 30 2010 02:38:45 +0000
AGE DISCRIMINATION IN INDIA
Majority of our parliamentarians are senior citizens but senior citizens are discriminated against in this country.
There are housing loan schemes for young people even if their job security is not guaranteed but a pensioner whose pension is secured will not get a housing loan because he is overage.
As a banker I know that the income of pensioner is more secure than a younger person in employment because an employed person can be jobless tomorrow and he might not have any other source of income.
The Government has come out with a scheme of REVERSE MORTGAGE which is for the senior citizens without any income though I doubt if any banker will be interested in lending money under that scheme too if a Senior Citizen approaches one. In this scheme the repayment of loan will be difficult as the only way is through sale of mortgaged property and given the present laws any financial person will know how difficult that is. But when pensioner is in a position to repay the loan from his pension no financial institution is interested. Wherever he goes the first question asked is about his age. The next question is do you have a son who can be co-borrower. What kind of country is this where a person’s eligibility is judged by his age?
You call them senior citizen but you don’t have a mediclaim policy for them when they need it most. You can not get a Life Insurance policy even if you are physically and mentally fit because you are over age.
In America if any mortgage company asks the age of a prospective borrower, it can be sued on the base of discriminatory practices but in this GREAT (Sic) country everything is judged by age. And the irony is that law makers are mostly SENIOR CITIZENS
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VIJAY KUMAR PURI, Freelancer, Freelancer
| 04 28 2010 15:18:09 +0000
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in present time people are squeezed in india during the jon , old peopleare thrown away from jobs when they are compared with young ones .the jons are stll not secured . in future times i feel that age of retirement will be around 50plus so keep your self update and be competitive because futrure generation donot like old generation .so only alternative is to give good education to your chieldernand adjust your life with them.
By
satishk.shukla , Director on Board, saurabhagro tech pvt.ltd.
| 04 30 2010 04:44:58 +0000
Vijay Kumar Sir, U yourself was in a Bank and U know the answers. -- Some PSU Banks allow loan against Pension but of limited amount -- Generally the age limit remains, say 65 / 70 yrs. Reverse Mortgage they call - take loan after 65 yrs with concent of the spouse, with age limit. Enjoy a sum per month from the Mortgaged Property - it is your resedential property. U need not repay. After both of U, nominate somebody to receive resedual amount of sale proceeds of the property. Very popular. As I have gathered knowledge, and if I am not wrong, in some countries, they dont ask ur age. But judge ur age from other informations collected. Ultimately they dont entertain. Getting employment after 55 yrs age is most difficult in those countries countries. Sir, it is said that aged people should not be 'lured' to take loan - they should be left undisturbed and live in peace of mind. Disclaimer : Not intended to hurt anybody.
By
ASOKE KUSARI, Domestic Private Banking-Executive/Manager, A large leading PSU Bank - India
| 04 29 2010 15:34:22 +0000
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