Sunday, 31 March 2019
Wednesday, 20 March 2019
WHY PENSION UPDATION REQUIRED
It is an accepted fact there is erosion of money value.The salaried
class are badly affected by this phenomenon.In order to contain this
loss to a certain extent due to depletion of money value Dearness
Allowance is introduced.In the long run Dearness Allowance also become
insufficient to safe guard money value & purchasing power due to
unforeseen economic conditions, Pay revision is resorted to make up loss
of money value & purchasing power beyond the ambit of dearness
allowance .Now coming to the subject of pension, Supreme court has
already declared that Pension is not a bounty, it is differed wages for
the services reentered & a right. Although Dearness allowance is
given in pension also to make up the erosion of money value &
purchasing power, but discriminated from salaried successors by denying
pension updation during wage revision, even though pension is a differed
wage as declared by Hon Supreme Court.Hence this is case a which
comes under Article 226.
AN ARTICLE BY MBC MENON
AN ARTICLE BY MBC MENON
Sunday, 17 March 2019
Monday, 11 March 2019
ATTENTION PRO RATA PENSIONERS OF LIC/GIC
LIC/GIC Retirees from Kerala who want to file case for getting full pension de linking 33 years service may contact Adv. Sathyanathan Mob.9446208045.He is already Handling a group case for GIC & well versed with GIC/LIC Pension scheme & CCS Pension rules.There is no point in waiting for any favorable action from UOI & wasting time at the last leg of our life.
Sunday, 7 October 2018
Govt to create `talent pool', may allow second option on pension for PSU general insurance Cos
New Delhi:
The government is keen to set up a `talent pool’ to deal with the
succession planning for the PSU general insurance sector,even as, it has
for the first time has shown favourable response to the long standing
demand give one...
New Delhi:
The government is keen to set up a `talent pool’ to deal with the succession planning for the PSU general insurance sector,even as, it has for the first time has shown favourable response to the long standing demand give one more option on pension to the older employees of the sector.
Addressing the two-day strategic conclave- termed as Manthan- at New Delhi on Saturday, , Rajeev Kumar, secretary, DFS, Ministry of Finance , said the government will create a talent pool of officials who will be eligible for the fast track promotions to hold the top positions of the public sector general insurance companies.
Addressing the conclave on the concluding day , Union finance minister Arun Jaitley, said the government is favourably disposed towards allowing a second option on pension for the employees, those who were working before 2004, of the PSU general insurance sector.
After 2004, all the government employees are governed by a system launched through New Pension Scheme(NPS).
``Providing one more option on pension to the employees, who had not opted for it, will not put any extra burden on the governmemnt,'' he said.
Jaitley also assured that the post of the CMD at the New India India Assurance (NIA)will be filled up soon .
``The post of the CMD at United India Insurance hasn’t been filled as yet as the appointee- Girish Radhakrishnan, CEO, NIA’s London operation- is yet to get regulatory clearance to get relieved from his present assignment,’’ he said.
The government for the first time had allowed pension option to the employees of the PSU general insurance companies way back in 1995 and 1996 but a lot of employees , almost 20 per cent of 60,000 employees had not availed it.
Since then, the demand for one more option for pension is pending with the government.
Meanwhile, the two-day conclave that conducted brain storming session on the six-point agenda, Product & Risk Management, HR Practices, Talent, Distribution, Technology & Digital , Customer Experience & Operation and Inclusive Growth,has identified 36 micro issues for which action plans will be developed.
The six groups that were deliberating the six broad issues will be meeting in every two-three weeks to devise suitable action plans, said sources who had attended the two-day conclave.
Subhash C Khuntia, chairman, IRDAI also addressed the conclave.The MoF had roped in two consultants McKinsey and Boston Consulting Group(BCG).Vikas Agnihotri, director, Google India, had addressed the conclave on `The New Internet Users’.
However, the scheduled address by Arundhati Bhattacharya, former chairman of State Bank of India didn’t happen.
Senior officials including CMDs and directors, general mangers, senior deputy general managers of state-owned insurers, NIA , United India Insurance, Oriental Insurance, National Insurance, Agriculture Insurance Company and GIC Re had attended the event.
Though the merger of three companies, UII, NIC and OIC have been announced,, the issue was not a part of the agenda at the convention.
Union finance minister Arun Jaitley
New Delhi:
The government is keen to set up a `talent pool’ to deal with the succession planning for the PSU general insurance sector,even as, it has for the first time has shown favourable response to the long standing demand give one more option on pension to the older employees of the sector.
Addressing the two-day strategic conclave- termed as Manthan- at New Delhi on Saturday, , Rajeev Kumar, secretary, DFS, Ministry of Finance , said the government will create a talent pool of officials who will be eligible for the fast track promotions to hold the top positions of the public sector general insurance companies.
Addressing the conclave on the concluding day , Union finance minister Arun Jaitley, said the government is favourably disposed towards allowing a second option on pension for the employees, those who were working before 2004, of the PSU general insurance sector.
After 2004, all the government employees are governed by a system launched through New Pension Scheme(NPS).
``Providing one more option on pension to the employees, who had not opted for it, will not put any extra burden on the governmemnt,'' he said.
Jaitley also assured that the post of the CMD at the New India India Assurance (NIA)will be filled up soon .
``The post of the CMD at United India Insurance hasn’t been filled as yet as the appointee- Girish Radhakrishnan, CEO, NIA’s London operation- is yet to get regulatory clearance to get relieved from his present assignment,’’ he said.
The government for the first time had allowed pension option to the employees of the PSU general insurance companies way back in 1995 and 1996 but a lot of employees , almost 20 per cent of 60,000 employees had not availed it.
Since then, the demand for one more option for pension is pending with the government.
Meanwhile, the two-day conclave that conducted brain storming session on the six-point agenda, Product & Risk Management, HR Practices, Talent, Distribution, Technology & Digital , Customer Experience & Operation and Inclusive Growth,has identified 36 micro issues for which action plans will be developed.
The six groups that were deliberating the six broad issues will be meeting in every two-three weeks to devise suitable action plans, said sources who had attended the two-day conclave.
Subhash C Khuntia, chairman, IRDAI also addressed the conclave.The MoF had roped in two consultants McKinsey and Boston Consulting Group(BCG).Vikas Agnihotri, director, Google India, had addressed the conclave on `The New Internet Users’.
However, the scheduled address by Arundhati Bhattacharya, former chairman of State Bank of India didn’t happen.
Senior officials including CMDs and directors, general mangers, senior deputy general managers of state-owned insurers, NIA , United India Insurance, Oriental Insurance, National Insurance, Agriculture Insurance Company and GIC Re had attended the event.
Though the merger of three companies, UII, NIC and OIC have been announced,, the issue was not a part of the agenda at the convention.
Saturday, 21 July 2018
LIC CASES ARE POSTED FOR HEARING ON 24/07/2018 IN SUPREME COURT
[AFTER
NOTICE (FOR ADMISSION) - CIVIL CASES]
|
|||
14
|
ALL INDIA INSURANCE PENSIONERS
ASSOCIATION THR. ITS PRESIDENT AND ORS.
|
M. RAMBABU AND CO.
|
|
Versus
|
|||
UNION OF INDIA AND ORS.
|
ASHOK PANIGRAHI[R-2], [R-3]
|
||
14.1
|
Connected
SLP(C) No. 20929/2017 XIV |
ALL INDIA RETIRED INSURANCE
EMPLOYEES FEDERATION
|
RAMESHWAR PRASAD GOYAL
|
Versus
|
|||
LIFE INSURANCE CORPORATION OF
INDIA AND ANR.
|
ASHOK PANIGRAHI[R-1], ANIL
KATIYAR[R-2]
|
||
and
IA No. 141188/2017 - CLARIFICATION/DIRECTION |
|||
14.2
|
Connected
SLP(C) No. 21206/2017 XIV |
FEDERATION OF RETD. LIC CLASS I
OFFICERS ASSOCIATION AND ORS.
|
T. L. GARG
|
Versus
|
|||
UNION OF INDIA AND ORS.
|
ASHOK PANIGRAHI[R-2], [R-3]
|
||
FOR ADMISSION and I.R.
|
|||
14.3
|
Connected
SLP(C) No. 27963/2017 XIV |
RETIRED LIC CLASS I OFFICERS
ASSOCIATION
|
GYAN PRAKASH SRIVASTAVA
|
Versus
|
|||
LIFE INSURANCE CORPORATION OF
INDIA
|
ASHOK PANIGRAHI[R-1]
|
||
IA
No.70987/2017-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT
|
|||
14.4
|
Connected
SLP(C) No. 30000/2017 XIV |
KRISHNA MURARI LAL ASTHANA
|
PETITIONER-IN-PERSON[P-1]
|
Versus
|
|||
LIFE INSURANCE CORPORATION OF
INDIA THROUGH THE SENIOR DIVISIONAL MANAGER AND ORS.
|
ASHOK PANIGRAHI[R-1]
|
||
IA
No.91874/2017-PERMISSION TO FILE LENGTHY LIST OF DATES and IA
No.95721/2017-I/A FOR DELETION OF PERFORMA RESPONDENTS
|
|||
14.5
|
Connected
SLP(C) No. 28873/2017 XIV |
MADAN LAL GANDHI AND ORS.
|
JAY SAVLA
|
Versus
|
|||
UNION OF INDIA SECRETARY MINISTRY
OF FINANCE DEPT. OF ECONOMIC AFFAIRS AND ORS.
|
ASHOK PANIGRAHI[R-2], [R-3], [R-4]
|
||
Sunday, 8 July 2018
OUR ONGOING LEGAL BATTLE IN SUPREME COURT
DEAR ALL,
IT IS ONE YEAR SINCE MSM LEFT US.
It
is exactly a year ago on 8/7/2017 that Mr M Sreenivasa Murty left us
for his heavenly abode leaving not only his near and dear ones in his
family in grief, but also about 50000 LIC Pensioners grieving when he
was in the midst of handling the health issues of his better half
(besides his own health issues to which he gave lesser attention)
besides being intensively engaged to take a plunge in the final legal
battle in the Supreme Court. He was more preoccupied with his mission to
secure justice for the Pensioners in the last lap of the legal fight
about to commence at the Supreme Court. He literally sacrificed his life
and resources for the just cause of the pensioners. Just before his
demise he was vigorously preparing to finalise the draft of the SLP of
our Hyderabad Association to be filed in the Supreme Court, but destiny
did not allow him to continue in his mission. His unfortunate demise
dealt a severe blow to the fraternity of pensioners and created a
traumatic vacuum in our Association's effort to carry on with the legal
fight.
We
had to gradually come to terms with the shocking development and MSM's
soul guided us during the critical periods during the past one year of
his absence and enabled us to go through the legal process in the midst
of financial constraints faced by our Association to the extent possible
with the blessings and cooperation of pensioners from across the length
and breadth of the country. We are now on the path of the final
management of the struggle from 24/7/2018 when our SLPs are scheduled to
be taken up by the SC for admission and hearing.
As
far as the SLPs and rejoinders filed by the various petitioners are
concerned, I believe that all the petitioners/Petitioner Associations
would have highlighted and emphasized the strong grounds in favour of
the Pensioners. As far as the SLP and Rejoinder filed by our Hyderabad
Retired Class I Officers' Association are concerned, we are confident
that we have made them as comprehensive and sound as possible. We have
especially tried to highlight the apparent glaring errors in the DHC
judgment and also to effectively refute the unsustainable points made
in the counter affidavit filed by LIC.
While
on this, I may inform our pensioner friends, that, notwithstanding our
contest of the verdict of the Delhi High Court through our SLP, we have
made constant efforts to get LIC to comply with the direction of the
said High Court to LIC to provide partial relief by way of payment of
arrears of DR besides revising the DR as per modifications ordered in
the judgment and also upgradation of minimum pension ordered by the
Bench. But unfortunately, LIC has chosen not to comply with the Court
order although they had not challenged the High Court Order dated
27/4/2017 during the past more than one year and there being no stay of
the DHC judgment. I had even sent queries through an RTI application
made to LIC CO to which I received only an evasive reply. I have made an
appeal to the Appellate Authority (in LIC) on 21/6/2018.Going by my
experience with the RTI response of LIC in a number of cases , I am not
sure whether I shall get a positive response from the Appellate
Authority. If I do not receive a satisfactory reply to my Appeal, I
propose to make a final appeal to Central Information Commission.
Now,
coming to the final battle in the Supreme Court on our SLP, no doubt
our SLP and Rejoinder have enormous strength of grounds. But unless
these strong grounds are argued before the SC bench by a senior counsel
engaged by us, all our efforts cannot fructify easily. This is the area
where we are constrained financially. With MSM handling the case, we had
assured comfort both from the point of legal front and the financial
front besides the cooperation rendered by the pensioners from all over
the country. Now the situation has become different on the financial
front. We are in dire need of funds for engaging a senior counsel and
carrying on the legal fight ahead. It is now a 'Do or Die' situation we
are in, to put it in short.
I therefore appeal to all my pensioner friends to liberally contribute to
our legal fund so that we will be in a position to carry the legal
fight to a successful conclusion thereby benefiting the long-waiting
pensioners through upgradation of pension. Individual contributions at
the rate of at least Rs 5000/- will be greatly useful for our purpose
although we shall value contributions of lesser amounts from pensioner
friends with gratitude.
Nothing
can be a better tribute to the memory of MSM than achieving the desired
successful outcome in our case in Supreme Court for the benefit of all
generations of pensioners for which all of us need to contribute our
mite.
The particulars of our Association's Bank Account are mentioned below for your ready reference:
PARTICULARS FOR FUND TRANSFER
ACCOUNT NAME: RETIRED LIC CLASS I OFFICERS' ASSOCIATION, HYDERABAD
SB A/c No 053310100000317
Bank : ANDHRA BANK SAIFABAD BRANCH,HYDERABAD,
IFSC No ANDB0000533
Cheques
may be drawn in favour of "RETIRED LIC CLASS I OFFICERS' ASSOCIATION,
HYDERABAD" and sent to Treasurer at the following address:
Shri Y V Subba Rao,
Block No 4, Flat No G1, Diamond Estates,
Ram Murty Nagar,CBCID Colony,
Hyder Nagar,
Hyderabad 500072
Mob No 9491124614
With greetings,
C H Mahadevan
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