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    Thursday, 20 August 2020

    FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS TAKES UP THE ISSUE OF FULL PENSION FOR 20 YEARS OF SERVICE WITH LIC MANAGEMENT

    FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS

    This is the Second letter 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, and more 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. And these therefore draw Pensions at less than the full levels, and only on 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. The letter is appended below.
    FEDERATION OF RETIRED LIC CLASS I 
    OFFICERS' ASSOCIATIONS
    Dear Sri Guptaji,
    I am sorry if you feel, I am inundating you with letters. I really can't help it, because it involves important matters of Pensioners. One major issue, about which I have even written to the Chairman, is that we in the LIC leadership do not think, it is basically our responsibility to apply mind on improvements in matters of Pensioners, especially where such changes have already been made, in similar establishments. 

    Yes, in two aspects, LIC did take initiative – Family Pension increase and Periodic raise for the 80 plus, where Results are yet to come in. But other than these two matters, you have not thought it fit to take up other important areas for improvement. And every time we bring up some matter before you, it is always, after it has  been made applicable to employees of other similar institutions like Central Govt. or RBI or Banks.

    I am now bringing up the matter regarding eligibility for Full Pension, on the basis of 20 years of Service put in by the employee. As of now we have the 33 year Rule for full pension eligibility. This Rule has been changed for others quite some time ago (in 2007 for BSNL and 2013 for RBI). I am attaching copies of instructions, on this behalf, in BSNL and the RBI. We would request that in LIC too this change is brought about by taking up with the Central Govt.

    Kindly do not set it aside, thinking that such requests from the Federation are routine stuff. Unless LIC Management recommends the change, whose principle need not now be newly expounded to the Govt., how will it ever happen? It is our belief, that if you recommend it, quoting the adoption of this rule in other Govt. Organizations, the change over to the 20 year eligibility Rule for Full Pension, should follow without fundamental questions being raised. I would most earnestly request that this be done without further ado.

    Thanking you and with Regards
    D. Krishnan

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