Re: Profile of Pensioners ---41% of the pre-August 1997 pensioners paid zero IR

Dear Mr Sahni,

From the summaries of outlay calculations made by you,I also counted the total pensioners in the pre-August 1997 category.

There are 14458 retirees and 10230 family pensioners adding up to a total of 24668 pensioners in this category.

40 % IR  has been paid only for about 16000 pensioners.Even the amount paid to some family pensioners only related to amount due to the  deceased regular pre-August 1997 retirees.Zero amount has been paid to family pensioners even treating Rs 2 & RS 4 as zero because of negative values for most months.Family pensioners constitute 41.4% of the total pre-August 1997 category pensioners.

In other words 41% of pre-August 1997 category pensioners have been denied 40% IR by LIC.

Also totally more than 8000 pensioners have not been paid IR.This has to be  checked.This may be true as on 11/8/2003, LIC has admitted to the MoF that there were 21762 pre-August 1997 retirees drawing pension then.

May be if authentic figures are released by LIC,there may be a slight variation but not very significant.

Kind regards.

C H Mahadevan