18% OF PRE-AUGUST 1997 RETIREES TO
HAVE
THEIR PENSIONS REDUCED ACCORDING
TO LIC’s METHOD?
I just
verified from my available data base and discovered the following:
|
Record Clerks constituted 7.75% of total
employees as at 31/3/1992.
|
|
Class IV employees constituted 10.2% of total
employees as on 31/3/1992.
Many of them might have got promoted as RCs
before their retirement.
|
|
Thus we can safely assume that about 18%
of the total retired employees
who were in the cadre of RC and Class IV
and retired prior to 1/8/1997
are victims of decrease in pension on account
of the faulty methodology
of calculations followed by LIC.
Are the AIIEA and AIIPA leaders aware of this
situation?
|
It will
be useful for the Respondent parties to get the data of correct
number
of RCs and Class IV employees retired from LIC prior to
1/8/1997
by invoking RTI Act so that this information can be placed
before
the Apex Court on 18/11/2015 to highlight the pension anomaly
in this
regard.
We are
already aware that every family pensioner of pre-August 1997
retiree
will get reduced pension on LIC’s methodology followed.
Can there be a better proof of the anomalous formulae followed by LIC?
Greetings.
C H Mahadevan
