DEAR FRIENDS,
MOU between LIC and all the Unions dt 14/1/1994
From the mails circulated among pensioners and one of the postings in the LIC Pensioners'Chronicle, it has been stated that there was an MOU between LIC & all UNIONS dt 14/1/1994 wherein unequivocally 'SAME DR for PENSIONERS as SAME DA for EMPLOYEES'.But this understanding was not adhered to while framing the LIC Pension Rules 1995 notified on 28/6/1995, with the result that for those retired from 1/1/1986 to 31/7/1997, the rate of DR followed for retirees was much less than the rate of DR for employees.
The MOU was only honoured w.e.f from 1/8/1997, that too in respect of the employees retired from that date.
I would welcome any of the readers to send a copy of the memorandum,if, available to my email ID or post the same in the two blogs , as it will be a very useful document in our legal fight especially of great value to pre-August 1997 retirees.
With greetings,
C H Mahadevan
