THE FALLACY IN LIC's APPROACH IN RESPECT OF PRE-AUGUST 1997 RETIREESu

Further to my post in  response to  Mr VVLN Sastry's post,I attach a
table of calculations to prove how the method  adopted by LIC
ostensibly for implementation of LIC Board Resolution dt 24/11/2001 is
badly flawed.
For one thing,LIC  has not recognised the fact that DR anomaly has to
be removed  right from 1/11/1993 or the date of retirement whichever
is later.
Secondly LIC has adopted the method of one- time merger of a faulty DR
with basic pension on 1/8/1997 without repeating the process on
1/8/2002 and 1/8/2007.
It is another matter that LIC has conveniently omitted providing
11.25%(average) weightage after merger of DR.
The table of calculations  clearly demonstrate that the pre-August
1997 retirees -especially Assistants and above- would have been better
off even if LIC had not adopted the method of merger of DR with Basic
Pension if only the DR formula was followed for retirees on par with
in-service employees as directed by the Single Judge Bench at Jaipur
while allowing WP No 6676/1998.
In the light of the calculations, it is also clear that the 1200
retired Class I officers who have been paid some interim relief have
perhaps been taken for a ride by LIC cleverly withholding the
supporting calculations  from them.May be they are satisfied with
whatever they have got instead of not getting anything as happened in
the case of  more than  20000 other pre-August 1997 retirees/family
pensioners.
Will these flaws be brought  up before the Supreme Court on 20/1/2016
by the counsel of the petitioners?
When such mischief is being taking place in respect of removal of DR
anomaly,what can be expected from LIC on the issue of upgradation?Only
judiciary can save LIC pensioners.
Greetings.
C H Mahadevan

Anomalies in LIC Pre-Aug 1997 calculations CLICK HERE