The change in the enhanced commuted
value in pension is only the consequence of the existing formula applied by
LIC.But the basic anomaly is in determining the gross basic pension for
retirees of the ten months' period from the wage revision date.
This can be
remedied only by following the CG rule in such cases.It is independent of up
gradation which is a matter concerning all pensioners.
I have heard that
in NABARD the last drawn pay is taken for determining pension.
We have to check
whether the same is the case in RBI also
Kind regards.
C H Mahadevan
