" I strongly suspect that the..........." writes our Gen.Secretary Sri D.Krishnan.

FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS

President :    N.P. Bali 705, Sur, Veena Saaz, Thakur Complex, Kandivali (East), Mumbai - 400 101 Mob : 9820324213 Email Id - npbali@hotmail.com

General Secretary :    D Krishnan No.6/1, Sreshta Riverside Apartments, Wood Creek Road, Nandambakkam, Chennai - 600089 Tel : 9176635967 / 044 42850049. Email Id - dkrishnan1@gmail.com

Ecircular No.DK/ 69                                                               6-06-2019

Friends, 

Reg: Confederation of Bank Employees Associations’  meeting with  IBA

I am reproducing a Report received on the meeting of Confederation of Bank Employees Associations with the IBA on important matters, which also concerns us vitally.

 One information received from LIC  CO circles is that the Board Resolution on increasing the percentage of Family Pension, has fallen through, as the Liability projected by the Actuarial Dept. turned out too high. I strongly suspect that the figure arrived at by the Actuarial Dept. would have had no relation to the immediate situation of liabilities, and , as they did while projecting the cost of up-gradation to the Delhi HC, put up the numbers, for all future times to come! We will need to find out more on this. 

The 92-93 Retirees' matter is coming up before the Kerala HC on the 10th of June, and we would be actively pursuing the Case, although some internal expectation was that the new Chairman would be able to take a Decision in the CO to end all litigation. May be, for now, we will need to contend with this position and follow up further on the efforts with the CO.

The Gen Secy. of the In-service employees Federation, Shri S. Rajkumar,  has taken so much interest in our matter, though it did not exactly bring in any favourable response from the EDs Personnel whom he met and handed over the letter, which is appended below. .

Federation of LIC Class-I Officers’ Associations

To,

The Chairman, LIC of India, Yogakshema, Mumbai.

Respected Sir,

Sub: Re fixation of Pension based on the Judgment in M.C.Jains case.

We wish to bring to your notice a long pending demand of retired officers for your immediate consideration and favorable action. There was a technical anomaly in the 1992 revision of emoluments regarding effective date of implementation. Since there was no solution from LIC

Management to correct this mistake, one of the affected officers, Sri. M.C.Jain sought judicial  remedy and his contention was accepted by the Honourable Supreme court. Even though he got the benefit, officers placed in the same plight did not get any remedy, in spite of continuous

representations. Based on the principles of natural justice, similarly placed officers should have also been extended the same benefit. As you are aware the number is only few and is coming down every year. These octogenarians are not in a position to fight the case legally. We should be empathetic to these officers who build this organization. Hence we request you to extent the same benefit to similarly placed officers regarding date of implementation of pension based on the

judgment in M.C. Jains case.

With regards S. RAJKUMAR  General Secretary

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And now here is the Report on Banks-IBA meet on 26-05-2019:

It is a red letter day for Bank Pensioners and Retirees when the CBPRO
leadership met the Senior IBA Officials and held detailed discussions
on 26.05.2016 at IBA office Mumbai in respect of Bank Pensioners and
Retirees long pending issues. The wise move by the Apex Bank Retiree
Organisations to come together and form a coordinated body named as
Coordination of Bank Pensioners' and Retirees Organisations led to
this welcome development of getting an audience with the IBA. This
facilitated a meaningful dialogue.

Shri K. Unnikrishnan, Deputy Chief Executive IBA, in his initial
remarks expressed the keenness of IBA to resolve the long pending
issues but at the same time also expressed anxiety of IBA about the
health of various Banks which has become a hindering factor in meeting
our expectations. He informed us that IBA is in the final phase of
getting the Actuary's report as all the data pertaining to the issue
of 100% DA Neutralization and Improvement in Family Pension have been
received from the Member Banks and already handed over to the Actuary.

During the course of the meeting IBA pointed out about the cost
implications and the huge provisions Banks have to make to meet the
requirements of AS 15 (Revised) in respect of provisioning. However
the CBPRO responded elaborately and some of the main observations from
our side are mentioned hereunder:

1. As regards Uniform DA Relief, the Number of the Retirees deprived
are less than one third of the total Number of Retirees including SBI
and out of that nearly thirty thousand have already crossed the age of
85 and looking at their very advanced age justice should be delivered
to them before it is too late.

2. As regards Family Pension, it is an emotional issue apart from
being a humanitarian issue. The bulk of the Family Pensioners are
widows of the Retired Employees and going by the sensitivity involved
the IBA should initiate improvement of Family Pension to 30% from the
present 15% without any ceiling.

3. Regarding Pension Updation, IBA expressed its reservations to take
up the issue immediately. We submitted that non updation from 1989
onwards has resulted in great and unimaginable distortions and if not
set right the gap between the recent Retirees and old Retirees would
further steeply widen. We also stated that the Courts have held that
Wage Revision and Pension revision are inseparable.

4. Extending Pension entitlements to Resignees is a well settled
matter with the Judicial pronouncement by the Highest Court of the
Land and their number being just less than four thousand the IBA
should implement the Court order in respect of all eligible Resignees.
So also in respect of Compulsorily Retired, the Pension eligibility
should be given to all Retirees irrespective of the fact that they are
award staff or officers. Here also we pointed out that there are
decided cases where Courts have upheld the right to Pension to the
Compulsorily Retired Persons.

5. As regards domiciliary treatment entitlements ...
Comrades, from the repeated assertions made by the IBA during the
course of our discussions, we hope that the extension of 100% DA
neutralization and improvement in Family Pension would get top
priority by the IBA. On Updation also the IBA will take a favourable
view and ensure that the legal and statutory requirements are given
due consideration and help in removing the serious erosion that has
taken place in the Basic Pension in the case of Past Retirees due to
various subsequent wage settlements. We had also pointed out that
Pension is coming under the Defined Benefit Pension Scheme and also
being a close ended scheme the availability of huge corpus should
enable the resolutions of the issues without any further burden on the
Banks. Moreover, since Pension Regulations are statutory Regulations,
these Regulations get precedence over all other provisional
requirements including provision for NPA.

With Warm Greetings,  A.Ramesh Babu,  K.V.Acharya

===================================================

With Greetings  

D.Krishnan

General Secretary