we do not want to circulate such unconfirmed messages. ,,,,,D Krishnan writes on Enhancement of Family Pension . Yes. Don t count the chicken before it is hatched !

 

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/58                                                             16-04-2021

Friends,

Reg: Revision Notification for Employees of LIC

       The much awaited Wage Revision Notification has at last become a reality.  The Weekly 5 days at work has also been granted and notification stands issued with immediate effect.

In banks, the Pensioners who retired after the effective date (1/11/12017) had to face an immediate drop in their Pensions due to the DR rate after the merger becoming lesser (from 0.10% to 0.07%). Banks had to take a devious route to give such retirees options of not claiming the balance on  one third of the Commutation value, arising out of Retrospective effect of Revision, for Pensioners, to protect the total pension amount against such drop.

 

This would not arise in LIC for three  advantageous reasons,

(1)  higher DR rate at the very same merger point 6352, viz. 0.08% against 0.07% provided in 11th BPS for banks,

(2)  Much higher load factor of 15% than in the bank fixation, and

(3) The Special Allowance that has been given over above the load factor of 15% hike. 

 

I am appending the Govt. of India Notification that applies only to class I (9 pages). The entire Notification runs to nearly 30 pages and was thought not necessary for us as Pensioners.

 ,,,

There have also been some rumors floating around that a Notification in respect of some benefits of Pensioners too is in the offing. So far as there are no clear indications of such a measure from the side of the Govt. we do not want to circulate such unconfirmed messages. We would, of course,  be happy to actually get such news from official sources, and circulate them if and when  they happen.

The second wave of Corona virus is a reality now, all over the country, and we as seniors in age have to take additional care, even if we have taken the two shots of the vaccine. The real issue seems to be the lack of healthy fear and respect for this second innings of the virus, amongst the public. It is our hope that with the speedy measures being initiated by the Govt. for covering all age-groups for the vaccination drive, the wild spread of this dreaded disease will be brought under control soon.

Wishing all of you healthy times ahead and with Greetings of the season

          D.Krishnan