Dear ALL,
This is in reference to the query of Mr K Sateesh (which appeared in LIC PENSIONERS CHRONICLE) on eligibility for revised Salary & consequent revised pension as a result of wage revisions that may be effected, I feel that he need not have any anxiety.
As far as eligibility for revised pension is concerned,voluntary retirement in accordance with the provisions contained in rule 31 of the LIC Pension Rules is treated as retirement under Rule 2(s)(ii).
I believe that he is already drawing pension on the existing scales.On revision w.e.f 1/8/2012, besides the arrears in salary upto the date of retirement, he will be entitled to difference in Commuted value of pension and revised pension from the date of retirement.
Voluntary Retirement from LIC service is different from the special VRS Scheme of GIC .
Kind regards.
C H Mahadevan
This is in reference to the query of Mr K Sateesh (which appeared in LIC PENSIONERS CHRONICLE) on eligibility for revised Salary & consequent revised pension as a result of wage revisions that may be effected, I feel that he need not have any anxiety.
As far as eligibility for revised pension is concerned,voluntary retirement in accordance with the provisions contained in rule 31 of the LIC Pension Rules is treated as retirement under Rule 2(s)(ii).
I believe that he is already drawing pension on the existing scales.On revision w.e.f 1/8/2012, besides the arrears in salary upto the date of retirement, he will be entitled to difference in Commuted value of pension and revised pension from the date of retirement.
Voluntary Retirement from LIC service is different from the special VRS Scheme of GIC .
Kind regards.
C H Mahadevan
