Fw: Trend of Staff Strength in LIC during the last three financial years- Exgratia for All ?Quantum Small?

As per the LIC's Annual Reports for the last three years,the staff strength of LIC  was as follows:

                           Number of                    Number of Pension       Number of  

                            serving employees          optees in service         employees under NPS

As at 31/3/2021   108987                               88770                      20117  (18.5%)    

As at 31/3/2022   104036                               79511                      24525  (23.6%)  

As at 31/3/2023     98463                               73585                       24878 (25.3%)

 Since 31/3/2022, there has been a reduction of  5926 of pension optees in service.

Reportedly 1,10,000 employees will benefit from wage revision as on date.

We had  74589 pensioners as at 31/3/2023 out of whom there were 24290 family pensioners.

Thus the retirees as at 31/3/2023 were 50299.If we deduct  estimated retirements and exits from 1/8/2022 till date which may be 9000, the balance  number of pre-August 2022 retirees may be about 41000. This differs from the figure of 30000 pensioners  stated in the LIC Press Release by 11000.Probably ,adjusting for errors in estimate, we may infer that no pensioner in Groups 1 to 6 may get excluded for one time  ex gratia payment which however is feared to be a pittance.

The real picture will be clear after release of Notification in a week .

C H Mahadevan