Letter to CEO,LIC regarding pension related and other issues

 

Regn No.PN 4769 (Regd under Indian T U Act, 1926)

(Affiliated to Bharateeya Mazdoor Sangh)

BMS Office, Vishwakarma Bhavan, 185, Shaniwar Peth, Pune 411030.

President: T.C. Gunesh Kumar Mob No: 9880683639

General Secretary: Ashok J. Joshi Mob No: 9561084182 & 9945104570

Date: 19-01-2025

Circular No 1/2025 

The Chief Executive Officer & MD, LIC of India, Central Office, “Yogakshema”, MUMBAI.

Respected Sir,

Re: Pending pension related and other issues.

• ✓
  This is further to our hundreds of letters in the past 15 years and the latest being dtd.18-9-2024 regarding the long pending issues. Except the increase in family pension and one more option for pension (denied categories are yet to get the pension option), almost all the issues are either pending at your level or at DFS level. We, being the affiliate of Bharatiya Mazdoor Sangh, the only recognized union by the GOI, have been following up the pending issues at DFS and finance ministry level to get the desired resolution.
• ✓
  The joint delegation of insurance sector unions affiliated to BMS, met the FM Smt. Nirmala Sitharaman ji on 10-10-2024 under the leadership of S/Shri. Surendran ji, Organising Secretary, BMS & Girish Arya ji, Secretary and In Charge, financial sector unions of BMS. The discussions lasted for about 80 minutes and the undersigned narrated in detail the pension related issues pending for decades. Madam heard with all seriousness and gave positive indications duly getting confirmed the details of issues with the Secretary, DFS, Shri. M. Nagaraju, who was present throughout the meeting.
• ✓
  As a follow-up action, Shri. Arya ji met Shri. M Nagaraju, Secretary, DFS on 21-10-2024 and the latter confirmed that necessary instructions are passed down the line regarding the issues raised with the FM.
• ✓
  Again on 10-01-2025, Shri. Somesh Biswas, Dy In Charge, Insurance sector unions of BMS, met the Joint Secretary, Insurance, Dr. Prashant Goyal for follow up and had a detailed discussion. The latter informed that the issues are being looked into.
• ✓
  After the meeting with the FM, the undersigned met the Joint Director/Under Secretary, DFS on 4-5 occasions as a matter of follow up.
• ✓
  As such, we request you to make serious efforts by recommending/following up with DFS from your side in respect of the pending pension related issues as reiterated here below-

  • 1)
    Updation of pension with every wage revision- OROP
  • 2)
    One more pension option to the left-over ex-servicemen and directly recruited Superintending/Executive engineers and resigned employees (whose total number is in hundreds).
  • 3)
    Increased pension to 80+ seniors.
  • 4)
    Double the family pension up to age 67 in case pensioner dies before age 67.
  • 5)
    Computation of pension at 50% of last pay drawn or 50% of last 10 months’ average pay, whichever is favourable to the retiree.
  • 6)
    Full pension for service of 20 years or more.
  • 7)
    One time ex gratia to pensioners aged 60 to 69 (who were left over while granting the same in May 2024).
  • 8)
    Reduction in commutation period to 10 years.
  • 9)
    Grant of NGI to the retiring employee if it falls due on the very next day of retirement. (say after midnight on the last date of retirement).
• ✓
  In addition to the above where necessary approval may be needed from the DFS, the following issues are pending at your level- (which can be decided by your good self)

  • 1)
    Consideration of ADO period (Apprentice Development Officer period) for terminal benefits including gratuity and pension, etc.
  • 2)
    Group Insurance Scheme (GIS) to those retired prior to 1-4-2018.
  • 3)
    Option for Mediclaim to resigned employees, to employees resigned on health ground without cutoff date and to those who took VRS.

We fervently hope that the above issues would be taken up with all seriousness at your level and at DFS level for satisfactory resolution.

With thanks and regards,

Yours Sincerely,

General Secretary