DK 55 dated 24 th March 2021. D.Krishnan Gen.Secy.Fedn. writes to FM.

 

FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS   

Acting President :    Shri P.P.Dhamija R-6/104, Raj Nagar, GHAZIABAD – 201002. Tel: 0120-4107104 / 9810186067 Email Id – premdhamija38@gmail.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/55                                        24-03-2021

Friends,

Reg:  A few matters of interest ….    

I had perhaps hinted in my previous circular about attempts being made by us here, to get across to the Finance Minister, Madam Nirmala Sitharaman, through sources close to her. That strategy has been getting delayed, and therefore, I thought, in the meanwhile, I could directly send a communication to the FM under Registered Post with AD. Accordingly, a letter in one page was drafted and sent out to the FM on the 18^th of March. I am reproducing the letter here for the general information of all our members:

 

FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS   

                                                                                       18-03-2021

Smt Nirmala Seetharaman,

Finance Minister,

Union of India, NEW DELHI.

 

Respected Madam Minister,

From your address to the IBA/Employee Associations, during the culmination of the Negotiations for Wage Revision, you displayed a splendid understanding of the problems Pensioners faced in Banks. Our problems of LIC pensioners are very similar.

Retirees get their Pensions fixed at Retirement and then for life it remains static. The market conditions from then, have had a run-away rise, and the pensioners are left far behind. There are no periodical up dates in Pension, such as the serving employees get, to keep abreast of market realities. Those retired earlier are nowhere, whereas recent retirees, by virtue of having had the benefit of Revision every 5 years, while in service, get their Pensions fixed at contemporary rates. There is a wide disparity in the quantum of pensions, between the earlier retirees and the recent retirees in LIC, even within comparable cadres. 

The Central Govt. Retirees, as well as the RBI and NABARD retirees, have had the benefit of Revision in Pensions, which keeps them on a level of modified Parity with the recent retirees. All we are asking for is to be put on level with these institutions through UP-GRADATION OF OUR PENSIONS. This is not merely for comparison with them, but to remain afloat with market conditions.

The pathetic scenario of Pension Payments per month:

MD aged 90, retired in 1991	Recently retired MD	Recently retired clerk, 10 levels below
Rs. 31000	Rs. Over 1,00,000	Rs. Rs.34000 (to be increased shortly)

It is here that we seek a marking-up with the market movements.

FAMILY PENSIONS are at an abominably low level of just 15% of the last drawn pay of the Retiree, and that throws the family into heavy dependence on friends or relatives, once the Pensioner dies. Raising it to 30% of last drawn pay, as in Central Govt. would mitigate the hardship considerably. In fact this aspect of change brooks no delay, as many Family Pensioners are in penury.

The  Retirees,  over Age 80 need additional support of ADDITIONAL PENSION, AT 5 YEARLY TURNS, as in Central Govt. This needs to be done on an urgent basis too.

It is our fervent plea, that as a Minister who has known the real issues of pensioners, you will take immediate steps to alleviate our rather difficult conditions.

Thanking you  

D.KRISHNAN.

 

The other method indicated earlier, of meeting someone close to the FM and once again initiating a process, to get our message across to the FM, will also be followed up. Our thinking is, to have this important matter sorted out, if possible, before the final recourse, to the Case in the Supreme Court,  is undertaken after the Court resumes Hearings in the normal way.

 

Members will recall our repeated communications to the Central Office, regarding  Retired Class I Officers also being given the time extension for availing themselves of the last LTC after their retirement, as allowed for Class III and Class IV.  It was quite an anomalous situation where all classes of employees retiring had the difficulty in availing themselves of the last LTC, and strangely, it appeared from the CO Circular that it covered only the Class III and Class IV.  Now the CO is issuing a clarification, saying, that Circular covered all Classes of employees retiring, and not just the Class III and Class IV employees. Here then is the copy of the CO  Circular spelling out the clarification:

Friends, I am also Attaching here a copy of the Circular Issued by the serving LIC Class I officers Federation covering their issues with the LIC Management and more significantly the programme of Action spelt out by them for pressuring the LIC to get the Govt. approval early, on the Revision Discussions concluded with them.

The Financial Year is coming to a close soon and I hope members have taken steps to pay up the Premium for the Next year’s Mediclaim before the 31^st of march. Those whose Premiums are deducted out of their Pension should make sure the Deductions from Pension do happen as per the arrangement. 

With Best Wishes to all  of you for good health and happiness. 

D.Krishnan