Premium structure for in service employees. E circular no.DK 37 dated 23rd aug 2020

 

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/37                                   23-08-2020

,

Dear Friends, 

1.      LIC CO has issued a Circular Dt 20^th August 2020, setting out the Premium structure for in-service employees. Though GIS is extended to the retired officers, retired after 2018, going up to Age 75,  there is no change in either the sum assured or the premium for the retired.   A letter written in this context by the NOIP to the Chairman LIC, seems to have caused some confusion in the minds of some of our members. The manner in which that letter starts out thanking the Chairman for introducing a scheme of GSLI  which includes retirees, many of our members started to think that some new Benefit has now been introduced for the pre-2018 Pensioners in LIC. The NOIP letter, after that initial sentence thanking the Chairman, as a courtesy, is all about the grievances of earlier Pensioners of LIC (Retirees of prior to 2018), and VRS Pensioners,  not included in the Scheme. So, very clearly, there is no new benefit granted by the LIC through the  20^th August 2020 Circular.  The LIC Circular is attached for your information.

 

2.      Members might remember the meeting with Sri Anurag Thakur, Minister of State for Finance, by a combined Team of Pensioner Associations, in July 2019. Our President Sri N P Bali was a prominent member of that Team. Now, Sri Agnihotri of AIRIEF, has drafted out a reminder to be sent to the MOS, carrying the principal points of demand outlined, while they  met him in July 2019.  I think we ought to be constantly engaging the powers on our matters, even if it is the Lockdown time. Both the reminder Letter and the earlier letter dt.22-7-2019 to the MOS are attached.

 

3.     NABARD Retired Officers’ Welfare Association, as you might remember, went to Court seeking same Pension Revision Benefits as given to RBI , by the Govt. of India, through their Circular dt 5^th March 2019. The SC judgment, though very clearly spoke in approving tones about the Demands of the NABARD Retired Officers’ Associations, in its final disposal Order, stated that the Central Govt. should consider the Demands of the NABARD Retiree Officers with due application of mind to the facts placed before the Court.   As a sequel to this judgment of the SC, a Circular has now been issued by NABARD, granting Interim Relief to the NABARD Retiree Officers, before full and final settlement on RBI lines.  Two significant points in the Court Order were,

 

1. The fact that whenever there was Revision for RBI Retirees the same was extended to NABARD Retirees too, and

2. NABARD was not a member of IBA for it to be classed amongst the Banks for such Benefits.

 

The Circular giving interim Relief to NABARD Retirees, pending full and final settlement on RBI lines, can be seen as one   step closer for us, the pensioners of LIC, towards getting our Demand on Revision in Pension granted, in the not too distant future. The Circular of NABARD, along with copy of the SC Order for Central Govt., are Attached here for your information.

 

With Greetings to all

D.Krishnan.

Atachments:

1.  GIS (2004) Increase in cover for in-service.pdf

2.  Letter_22072019_to_MoS.pdf.

3.  MPA- draft Letter to MoS dt. 23082020 .docx.

4.  NABARD Allahabad Judgement.pdf.

5.  NABARD Interim Relief Circular20200820.pdf

--

D.Krishnan

General Secretary

5 Attachments