As regards the 320 retirees of the period 1/8/1992 to 31/3/1993,if the RBI pattern is adopted for LIC pensioners,the surviving retirees will get prospective benefit of upgraded pension,but the nominees/legal heirs can only claim from LIC the benefit of implementation of the M C Jain case judgment.Mr M C Jain can get the benefit of upgradation applicable to retirees of the period from 1/8/1992 to 31/7/1997 whereas,the other M C Jain category survivor retirees who did not get similar benefits will get upgradation based on cumulative multiple applicable to retirees of the period 1/1/1986 to 31/7/1992 and the upgraded pension will be more than that will be available to Mr M C Jain.This is due to an anomaly arising out of non-implementation of the M C Jain case judgment for similarly placed pensioners.Of course Mr MC Jain was lucky to get some arrears small it may be at Rs 12000 plus.
Mr Murty wants some calculations to be made at maximum of scale.Although it is possible,each pensioner can multiply his basic pension by the cumulative multiple applicable to his period of retirement and round it off to the next higher Rupee if it is already not a round figure.
For example,for the basic pension Rs 4196 of Mr Murty,the cumulative multiple as given in the blog is 6.38.
His revised basic pension will be= 4196 x 6.38=26770.48 which when rounded to the next higher Rupee will be 26771.
The DR on this will be at the rate of 0.10% of the basic pension per slab .
The gross monthly pension on notional basis will be 26771x 0.001x 544 + 26771=41334 notionally for February 2019 to July 2019.
But we have to remember that this is only an academic exercise as of now.
C H Mahadevan
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