GS, NOIP WRITES TO CHAIRMAN LIC ON NON CREDIT OF PENSION IN TIME

NATIONAL ORGANISATION OF INSURANCE PENSIONERS

(Affiliated to Bharateeya Mazdoor Sangh)

BMS Office, Vishwakarma Bhavan, 185, Shaniwar Peth, Pune 411030.Tel.: 020-24454040

       President: S. L. Burman​​​​​      GeneralSecretary: Ashok J. Joshi

​​​​​​​​​​Date: 10-04-2016

​To,

​The Chairman,

​Life Insurance Corporation of India,

​Central Office, Yogakshema, MUMBAI

​Dear Sir,

​Re: Vexed problem of non-crediting of pension in time

 ​Ever since the pension rules were made effective, the pensioners throughout the length and breadth of the ​country have not been receiving their pension in time; that is to say on first of every month. Previously cheques ​were being issued or pensioners' bank accounts were being credited when there was no facility of Core​Banking/NEFT facility etc. During those days too different practices were prevalent in each Division of LIC and ​pensioners were not getting their pensions exactly on first of the next month. Even after Core Banking/NEFT ​facility has been implemented in almost all Public Sector Banks/Private Banks/Co-Op Banks, situation has not ​changed for the better. Even now from almost all the Divisions of the country, there have been innumerable ​complaints from the pensioners complaining non-credit of pension on the first of next month. In some Divisions,​for some months pension has been credited after 5th of the month.

​When enquiries were made in such Divisions, lame excuses are being given such as though LIC has given cheque ​in right time the bankers/NEFT handling banks have not credited on time or there was a holiday/Sunday etc etc.

​Why these excuses do not come to the fore while paying salary to in-service employees?! There is no convincing ​explanation from the disbursing offices regarding this. LIC Pension Rules provide for payment of pension ​monthly on or after the first of next month. Can it bemis/interpreted that any day will be alright in the next ​month? Detailed here below as to when the pension is payable in other institutions-

1)

Central Govt/State Govt pensioners get their pension on the last day of the same month.

2)

Pensioners of SBI get their pension during the last 4-5 days of same month, as per the calendar released in advance for the full year.

3)

Public Sector Banks either credit on the last day of the same month or on the first of next month.

4)

It is learnt that Kerala Govt pays pension in advance on the first of the same month, just like LIC premium payment.

Many LIC pensioners solely depend on their monthly pension and to mitigate the hardships, we entreat upon you to issue uniform instructions to all the disbursing offices in the country as follows-

)

Credit the pension on the same day when employees' salary is credited to their respective SB accounts,

)

If this is not feasible for any reason whatsoever, the disbursing offices should credit the pension in such a way that the pensioners are able to draw their pension through ATMs after midnight on the last day of the month. That is for example- for April 2016, the credit is given in such a way that the pensioners can draw pension through ATM after midnight on 30th April 2016.

We solicit your immediate personal attention in this regard and hope to get favourable action from your end.

Thanking you,

​​​​​​​​

​​​​​​​                     (General Secretary) ​