Meeting with MOS Finance

Meeting with MoS 

It was thought necessary to take up our pension related grievances, particularly updation of pension with wage revision, with the Central Government for early redressal, through an effective linkage so that our issues are heard and appreciated by Hon'ble Minister (Finance). Shri S N Chhabra, Chandigarh endeavored and found the desired linkage through Shri A L Dhavan, an octogenarian and very popular retired Sr Divisional Manager, who arranged for the meeting with Shri Anurag Thakur, Hon'ble Minister of State (Finance). Shri T C Chopra, who is also an octogenarian and equally popular activist, well acquainted with the family of Hon'ble MoS, also contributed his best for the fruitful meeting.     We reached New Delhi on 21st August 2019 and discussed the issues to be presented before the MoS. It was decided that Shri A L Dhavan Sahab would introduce the members of delegation. Shri N P Bali Sahab would be initiating the discussions on the issues viz. Pension Revision, Family Pension and Increased Pension on attaining age of 80 years and after every five years on the pattern of CCS Pensioners.  Shri M P Agnihotri would be supporting Shri Bali on rules and data related issues, if needed. Other members in the delegation will also supplement wherever necessary. It was also decided that if time permits, some other issues would also be taken up. Shri C H Mahadevan was in constant touch with the delegates through email/WhatsApp and provided rich in puts. On 22.08.2019, the delegation consisting of S/S A L Dhavan (Jalandhar), N P Bali (Mumbai), S N Chhabra (Pacnchkula), M P Agnihotri (Hyderabad) and T C Chopra (Chandigarh) met the Hon'ble MoS. The details of meeting are already informed by Shri Bali Sahab to Shri D Krishnan, Shri G Krishnaswamy and others and also circulated by respective leaders. In addition to what is already circulated, I would like to share that on 21/8/2019, we not only discussed our points but also the expected questions and appropriate answers to such questions. When Shri Bali Sahab presented the issue of pension updation with wage revision, he invited attention of Hon'ble Minister towards the board resolution dated 24/11/2001 whereby LIC Board recommended removal of DR disparity by revising pension corresponding to then existing revised pay scales (as on 1/8/1997) on the lines the Central Government allowed to its employees, as the LIC Pension Rules are modelled from CCS Pension Rules; Hon'ble Minister wanted to know why it was not approved. We submitted that the Central Government has not conveyed its decision so we are not aware as to why the approval of board resolution was not conveyed. However, it is understood that objections are on financial constraints, ripple effect and scheme is a funded scheme. We explained that the overall expense ratio of LIC has been showing a decreasing trend –in sixties, it was 25 to 27 percent whereas for last 10 years it is between 12 to 14 percent only. The global standard is 25%, thus the overall expenses of Corporation are well within control. Any other calculations on this regard may be a projection on certain assumptions, which does not reflect the correct position. We also informed that Service Rules including Pension Rules of LIC employees are enacted by the Central Government whereas in case of other PSUs, their service / pension rules are enacted by their boards on the basis of agreement, as a package deal, reached between the employees' unions and management. On the issue of funded scheme, we informed that pension is main retirement benefit to LIC employees as is in case of CCS employees also. Accounting procedure may be as per the practices of the employer but statutory liability is the same. LIC's pension scheme should not be confused with contributory restricted fund scheme, which is altogether different. While highlighting the discrimination in payment of pension, we informed that employees retired before 1992 get one third or even less than the pension being received by similarly placed employees retired after 1/8/2012. Each wage revision creates discrimination, which gets widened with further wage revisions. When we pointed out that LIC pension Rules contain a residuary rule providing for those benefits which are paid to CCS 

employees but are not provided in LIC pension rules, Hon'ble Minister wanted to know what are such benefits and then we informed that benefit of pension revision falls in that category.  With regard to Family Pensioners, it was informed that their condition is pathetic as they get only 15% of the last drawn basic pay of the employee. For CCS employees and RBI employees Family Pension is increased to 30% of last pay drawn by the employee.  We informed that LIC is the organization which is hundred percent owned by the Central Government. It is the organization which provides substantive funds for national development, its total annual income has always shown positive growth and its expenses have always been within control. We, the retired employees, enjoys the pride of bringing LIC to the stage where it is today.  Hon'ble Minister assured to look into the matter and do his best to resolve the issues. He instructed the Personal Secretary to put up LIC's Pension File before him in the evening. All the members participated in the discussions to supplement the points.  Our purpose of meeting Hon'ble Minister was to bring our grievances to the knowledge of decision making authority in the Government and clarify certain points where some misconception prevailed. We feel that we have been successful in conveying our stand. We have to follow up the matter and keep proper liaison to bring it to its logical end. Shri Bali Sahab is sending a 'thank you' letter to Hon'ble Minister for hearing us patiently and assuring for looking into the matter. Shri Dhavan Sahab will also communicate our gratitude to them who have made valuable contribution to arrange this meeting and also to extend their support till we get the desired results. Friends, I would like to share my personal feelings for those who conceptualize this idea, worked hard for making the meeting possible and brought together different persons for a meaningful talk with Hon'ble Minister-they are Shri S N Chhabra (87+), Shri A L Dhavan (86+), Shri T C Chopra (85+) and Shri N P Bali (80+). These enlightened, enthusiastic and super active, super senior citzens have shown us how things are done. In addition to managing the meeting, they travelled from far off places- Shri Dhavan from Jalandhar, Shri Chhabra and Shri Chopra from Chandigarh and Shri Bali from Mumbai. Staying at GH (Asif Ali Road) and visiting Hon'ble Minister's residence and North Block, at New Delhi by completing various formalities is a tedious job. They did it. They made it to happen. My salutes to them.     

With best wishes, 

M P Agnihotri. 

Hyderabad 

Mob No. 9425206918/9618315890