DK 35 DATED 7.8.20

 

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

E circular No.DK/35                                       7-08-2020     

Friends,

Reg:. 1. Pension on 1^st. Letters of DK and SKA

2. Family pension matter in Bank

3. Family Pension in LIC _ a glance

 

1. Pension Disbursement on the 1st of the month has been a matter of discussion with the CO of LIC, for quite some time now. Yet, we have not reached a position where, uniformly, this is being implemented all over the country. Sri S K Awasthiji, Jt Secretary of the Federation, and Secretary  of the Lucknow Association,  has been one of the foremost among our leaders to keep fighting over this simple, but unresolved issue. He wrote promptly to me, when on August 1st, Pensions were disbursed differently in different Divisional jurisdictions -- some getting it on 1st of August, and yet others on the 3rd or 4th August. I sent a message direct to the MD LIC, Sri Mukesh Guptaji , under copies to the 2 EDs, Personnel and E&OS of CO. Sri Awasthiji, wrote to ZM  North Central Zone, clearly explaining how the let up happened due to practices being differently  followed in different Divisions.  I am reproducing both the letters for your information.

 

2. The Banks struck an MOU with the IBA, on the 22nd of July ,as already informed to our members, bringing to a near completion, their long-drawn struggle on the Revision of emoluments, due in 2017. However some issues like Pension updation and Family Pension increase, have remained unresolved in spite of the MOU being signed. We had brought to your notice how one union, BEFI based in Kolkata, had not signed the MOU, on the very issue of Pension Updation and Family Pension not having been part of the MOU or List of Pending aspects to be discussed. Now, we have a Circular issued by the AIBEA, explaining some aspects of the unresolved Pension issues. The Circular also encloses some charts to show what the Family Pension increases would be if and when it (30%) finally comes about. Though these are applicable to Banks only, it may give us an idea of the kind of increase that might happen, if it comes to LIC too.

 

3. Sri C H Mahadevan, of Hyderabad Association, has brought out charts indicating Family Pension as a percentage of Pension drawn ( though there is no relatable relation between the two in reality), for LIC Pensioner families. I thought it might give our members an idea of increases too, for Family Pensioners of LIC, if the 30% Rule were to be applied, as we expect it, sometime down the line. The Chart of course does not readily provide the increased numbers of probable Family Pension at the 30% principle, but one could apply the doubling principle to the 15% amounts indicated in the Chart,  to get an idea of the increased Family Pension, at the increased Rate of 30%, if that came to be applied to Pensioners in LIC. 

With Best Wishes to all

D. Krishnan.

Encl: Four attachments