To:
MDs Sri MJagannath & Sri Tablesh Pandey
Revered & Respected Sirs,
Issues & Grievances of Pensioners pending for very long in spite of reminders & followup
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1)Family Pension was revised & paid at rate flat 30%of Last drawn Basic Pay of Regular Pensioner,without Ceiling for BANK PENSIONERS wef 1/4/2021,now more than 2 years over,since
In fact Hon FM Smt Nirmala Sitharaman presiding over IBA Wage concluding Meet Dec 2020 congratulated Bankers & affirmed that she is sympathetic to old & older pensioners getting small pension & also to Family Pensioners badly needing a revision. She reiterated this in few meetings with Pensioners Fedns in April 2021 & when someone enquired if this will be fulfilled soon, she retorted that any announcement she makes ,she steadfastly adheres & fulfils .
Sir,23500 pensioners have died & are dying.Family Pensioners pension is very low.Former Chairman Sri KPNarasimhan who died more than a year before, getting total RP Rs 34500 app. ,his wife gets a pittance of app Rs12,500.
Some consolation will be there if LIC Family Pensioners ALSO secure SAME FLAT 30 % of last BPay wef 1/4/2021 without any Ceiling.
IN FACT,sound salutary Corporate Governance Practices ,as is widely discussed & delineated,more so with Present INDEPENDENT DIRECTORS STRENGTH,now 8 as against earlier 4 only, prescribe ,that BOARD RESOLUTIONS passed must be honoured in letter & spirit, & in our case, in Oct 2019 for REVISED FP implementation wef 1/10/2019 & not 1/4/2021 arbitrary.
The tribe of Family Pensioners has increased by leaps & bounds & ratio of FP to RP has gone up from 20 % to 45 % & in some Zones to 50 % too.
b) On the death of Regular pensioner ,Family pensioner gets full Pension till age 65.,ie7 year period
After retirement age was 60 years,in spite of Several requests & pleas by Pensioners Fedns, to automatically continue for same 7 year period from 60 to 67 years, is YET to be approved.
2)Age-related ,value added Basic Pension increase at ages 80,85,90,95 & 100 years by 20%,.30,40,50,& 100%, is also still Pending for long. In fact all know ages 95 & 100,it will be zero or miniscule.Further,it is NOT on total pension but only on Basic Pension.
Our calculation with some credible extrapolations of SZ agewise figures ,which has proved the test of time ,even for outlay for Pension upgradation in fair accuracy ,
as indicated then in SC SLP cases proved as near as LIC Outlay .
The outlay for Age related will be minimal & moderate, around Rs100 crores .
Kindly approve & secure release of this small benefit to agerelated Pensioners ,Welfare & Progress of its own pensioners must be a Cardinal concern of any empathetic Management.
3)No area needs IMMEDIATE REDRESSAL to all pensioners than the Considerable Domiciliary treatment expenses,which any pensioner & spouse ,as Doctors Consultation fee, medines, pills, injections & repeat consultation often needed with exhorbitant expenditure eating away considerable portion of meagre pension with Zero perquisites.
We have been Repeatedly requesting this Plea to be honoured urgently,as heavy expenses erode the pension & worrisome too from health point of view.Strangely EVEN from age 45 for Employees Medical check up is offered,while for Pensioners who in FACT & REALITY positively need SAME CMB Cash Medical Benefit on lines forClass 3 & 4Rs9800,for Class 2 Rs12300, & for Class 1 ,upto BasicPay Rs99,000 :Rs19,600 & Above BP Rs99,000 :CMB Rs29,400.All are aware every Wage agreement, it is revised upwards. This also we found outlay will not be heavy but again to the extent of around Rs100 cr as large Denominators are in Class3 & 4, & Class 2
4)a)When Group Mediclaim policy 2021-22 OSA Raised upto Rs50 lacs,YET as is customary when large numbers employees & pensioners join, OPTION for few left out cases NOT covered,as NEW INDIA garners heavy collections, must have been graciously offerred.SO TOO,again next year OSA Raised upto Rs 75 lakhs ,Option could have been given.ALL expected this year OPTION will be extended but disappointed. PLEASE ensure immediate extended talks with New India & secure this concession so as not to allow our fellow pensioners to be WITHOUT COVER.
b)Family pensioners need emphathetic provision of ALLOWING them to choose any lesser OSA ,as they GENUINELY find the proportionate formula provided is miserly & does not confer any significant reduction;they say even BSA is sufficient ,LOW pension irritates them as it is worrisome to pay unnecessarily high premium for Unwanted Coverage.
c)Another reality is SPECIFIC CHRONIC cases of some peculiar illness or disability prolonged with heavy recurring expenses ,for better remedy or cure,when Doctors /Surgeons/Experts recommend that such & such wear or special appurtenances needed certification, that Expenses must be approved & if at all a Restriction is required, not otherwise,confine such treatments to 10 or15% of BSA Ceiling .Pensioners have coughed up sadly a large chunk for such illness detrimental to family & so need SPECIAL ATTENTION, even NOW as hardly the ink has dried & though thankful for Revised 2 slabs of Rs10 & Rs 15 lacs as against original Rs 4,6 & 10 lacs 3 Slabs .
Sir, when Meals Coupon in 1/9 /2010 for all Employees from Substaff to ED & now outlay stands at Rs 620 cr per annum,it is not too far to GENUINELY permit these ,to reduce immense sufferings of all pensioners.
5)Life Certificate has also become a complicated affair,as Jeevan Shaksaya is not properly functioning ,Digilocker also not satisfactory,Internet delays & slow speed & loading many data not easy,Family Pensioners again in pitiable position,Jeevan Pramaan also easily said than done & SO, PLEASE ALLOW Video call from Pensioner to Pension Cell Officer,so easy & for verification too.BOON will it be to PERMIT this ,as it is Horrible to see Agony & Genuine Bottlenecks faced by Pensioners & PC Officers in August so tired, Number s pending not coming down etc,Should you not help please ? ACCEPT to give yeoman relief .
6)With regards & respects & heartiest Congratulations to you all for elevation to this eminent top position MD to guide the DESTINY of all employees & pensioners & sure LIC to continue as Nations Pride & defending & elevating us Elders,Sr Citizens & SuperCitizens as FOUNDERS characterised by every Chairman,Chairperson in the Voyage & Journey from LIC 1.0 TO LIC 2.0 & now LIC 3.0 Faith & Prayers Sirs,
R.B.KISHORE,ED (Retd),LIC,PATRON, RIEA (RetdInsceEmployees Assn) Chennai & PATRON, AIRIEF (All India Retired Insce Employees Fedn )
098403 40591 : rbkseetha@gmail.com
7/5/2023 ; 205am
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