it is INSURANCE WEEK CELEBRATIONS. CIRCULAR FROM OUR CHENNAI ASSOCIATION.

 

RETIRED   LIC   CLASS   I   OFFICERS’   ASSOCIATION – CHENNAI

(Affiliated  to Federation of Retd. Class I Officers’  Associations)

President G.N. Sridharan (9841072951) 7/4, II cross St., Karpagam gardens, Chennai-600020

Vice-Presidents M.Arunachalam (9840869768) P.A.Sivakumaran (9444079062)

Secretary V.R.Krishnan (9840932943) H-9-B, Krupa Colony, 44thSt., Ashok Nagar, Chennai -600083

Jt. Secretaries  S. Mythili (9840089067) M.D.Gunasekaran (9940311696)

Treasurer T.S.Asok Kumar (9444440319)

1-09-2020

Reg: Greetings on the LIC day  & Some important activities of the Federation

The Federation and the Chennai Association office bearers are very glad to send all of you, the retired colleagues, who had been undoubtedly the pillars of this mammoth organisation, the greetings of achievement,  on this day the 1^st of September, the LIC Day ,  observed widely as Insurance Week.  We feel LIC is ours, and well after retirement, we still have the harmful sentiment when the Govt. wants to sell off a bit of the ownership of the Organization. We still have pride over the achievement records  of LIC.   Surely  it’s a great Day to be celebrated by all of us.

       Similarly we have enough matter to feel  gratified about the functioning of our Federation. During the last one month a lot of activities are seen at the All India level.

Pension Disbursement on the 1^st  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.  Many Divisions lag behind and there were months when the pension was credited to the retirees account on 3^rd or even 4^th of the month. This was taken up by the Federation very seriously with the MD and ED(P), quoting how  in the banking sector with the same type of pension rules,  the pension is credited on the last working day of the month and that  with a little bit of earnestness the same can be brought about.

The next one again, to Sri Guptaji, the MD, but this time, on the Rule of minimum qualifying service, for Full Pension eligibility.  As you might know, it is still, a minimum of 33 years of Service, for eligibility for full Pension in LIC, whereas it is 20 years in Central Govt., RBI and other Organizations.  As a result of this old Rule holding good even now in LIC, there are many employees who suffer. Particularly the Ex-service men who joined the LIC at later age, with less scope for full term of 33 years of Service being put in, for full Pension eligibility are the most hit, who  therefore draw Pensions at less than the full levels, and only on a pro-rata basis. Our plea is not something of a new principle being expounded by us, first time, but to make the change over to the 20 year minimum Service for full Pension, on par with the Govt. and other institutions which have switched over to this liberalized Rule.

We had  taken up with LIC,  the long pending issue of increase in percentage of family pension as well as payment of additional pension from the age of 80 @ 20% every five years. Both are pending at the Finance Ministry level. Our Federation had reminded the CO again on this.

LIC had denied the group insurance to the employees who had gone on voluntary retirement. The irony here is LIC had not informed those gone on VR, about the non-availability  of this benefit, even at the time of their relief.  More painful is,  by a circular in March 2020 they had denied this benefit  to those who had gone on voluntary retirement during November 2019, and also refunded the premiums collected. The Federation had strongly reacted to this unjustifiable action and urged upon the CO to extend the benefit.

Another  important communication  to the Chairman of LIC, is from the Joint Group of Pensioner Associations, on 31-08-20. We  urged on the Management to play its legitimate role, by recommending to the Govt. the need for Pension up-gradation.

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, from the same joint front a reminder had been sent to the MOS, carrying the principal points of demand outlined, while the delegation   met him in July 2019.  Perhaps we ought to be constantly engaging the powers on our matters, even if it is the Lockdown time.

The Annual General Meeting of the Association which will be in May normally is due. With this Covid 19 pandemic it’s a mute question as to when the same can be held or if it has to be skipped. We shall inform the members  due consultation, among the president and other Office Bearers.

With Greetings to all for safe and healthy home-stay

 President and Secretary