Court hearing

Dear Mr Sankarasubrahmanian, Let us not get perturbed.Our fight for DR anomaly removal and upgradation of pension is not founded on actuarial principles but on legal grounds.If actuarial consideration were to be the guide, the LIC Pension Rules, 1995 would not have been notified.You will recall that one of our past Chairmen-an actuary-was reported to have been of the strong conviction that LIC cannot afford to have an employees' pension scheme.What happened later is history.Two decades later, we are in the thick of a legal fight for upgradation after experiencing favourable judgments in three High Courts. Chapter III of the Rules stipulate that LIC should ensure adequate amounts in the Pension Fund in order to meet the liability of pensions due to the employees.Actuarial valuation of pension fund is confined to the purpose of determining whether the fund is actuarially adequate, and if not by what quantum of infusion the Fund should be augmented. The actuarial opinion cannot make the Corporation judge the desirability of either enhancing or reducing the benefits to pensioners at large which will depend on amendment of pension rules..Actuarial assessment is an enabling process to help the LIC to keep the fund adequate at all times to meet its pension liability. Today our fight is on the legal ground that the LIC Pension Rules 1995 as they exist today are discriminatory against sections of pensioners constituting violation of Articles 14,16 & 21 of the Constitution.Issues not related to these can only be digressionary and not material. Let us carry on our legal fight with the right focus. Kind regards. C H Mahadevan On Tuesday, July 26, 2016, Sankara Subrahmanian Dharmarajan <dsmani.tvm@gmail.com> wrote: My dear Sir, When matters were moving in the right direction giving a ray of hope to the anxious Pensioners-particularly to the old timers-the letter by esteemed Actuary Shri Ramakrishnan was quite untimely. As somebody said it would supplement to the needs of the Corporation and GOI to counter our arguments. With due reverence to Shri Ramakrishnan, I understand, he himself draws very meager amount as Pension. In the circumstances much depends on our arguments in Court highlighting the onus on the part of LIC to strengthen the Pension fund in the interest of its own employees and if need be drawing parallel even by States giving parity in pension to employees of Quasi Government employees. With respects, D.Sankarasubrahmanian