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Monday, 6 March 2017

NO MORE PENSION OPTION FOR LIC EMPLOYEES


It was only during negotiations & talks with all Unions for completing wage settlement for 1/8/2012---31/7/2017 LIC gave assurance to employees that 2nd Option may be offered by Govt .This was reiterated in Union Circulars subsequently, after wage charters were satisfactorily settled .Viewed in this context,the reply in Parliament by Union Minister for Finance** is shocking. Govt has the tendency even to abrogate promises given to the highest Functionary of LIC, Chairman & ultimately backtrack & give a deathblow to employees ,denying them the 2nd option

It is strange & ironical that 2nd Pension Option  was given to Bankers & that was such a large  number,as compared to insurance industry. UOI does not even want to maintain same stance for same problems & more so ,when it was already given to Banks,ipso facto, Govt should have maintained parity in decision-making for LIC employees.

RBKISHORE
VP,AIRIEF
**Posted on this blog on 04.03.2017

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