100% DR Neutralisation

From what I have understood, the LIC Board Resolution dt 24/11/2001 did not recommend 100% DR neutralisation but an upgradation of pension for pre-August 1997 retirees by merger of DR with basic pension on 1/8/1997 and providing 11.25% weightage. LIC also in its illustrative chart simply added the existing DR which was anomalous without weightage and sent recommendations to MoF.What was recommended was not 100% DR neutralisation.100% DR neutralisation means the uniform DR rate of 0.67% of Basic pension per slab for Group 1 retirees & 0.35% of Badic pension per slab for Group 2 retirees.This is what is being now adopted for PSB pensioners with a difference that retirees from 1/11/1997 to 31/10/2002 were to be provided 0.24% of Basic Pension for Bank pensioners as 100% neutralisation happened only from 1/11/2002 for them, while it happened for LIC pensioners from 1/8/1997 itself.So Board Resolution did not recommend 100% DR neutralisation in the sense that is now proposed for Bank pensioners.

R B KISHORE