The Managed Metadata Service or Connection is currently not available

Error:
When tried to access the Manage Metadata Service from the central admin, got the below error

The Managed Metadata Service or Connection is currently not available. The Application Pool or Managed Metadata Web Service may not have been started. Please Contact your Administrator.

Fix :
Download KB976462 Hot fix and install.
http://connect.microsoft.com/VisualStudio/Downloads/DownloadDetails.aspx?DownloadID=23806