It is very difficult to break the stalemate on the pension issue.
In the LIC pension.rules as notified by the ministry,it is clear that there is no statutory provision for periodic pension revision except enabling clause for release of Dearness relief every six months. Even for central staff, revision of pension is not automatic on every pay revision or a part of pension service conditions.
Pension revision hinges on the recommendations of pay commission and require subsequently to be cleared by ministerial group before issuance of office memorandum for implementation. Govt on its part has to obtain parliamentary approval by way of budgetary support to give effect to proposed revision to cover the additional burden as it is paid out of consolidated fund of India.Lic which has limited space for financial autonomy has stirred honets nest by raising false hopes in employees mind by way of board resolution favouring upgradation..
All stake holders on this issue as a whole have already adequately exhausted judicial avenue and Judiciary on its part have extensively dealt with article 14,&21while examining our claim for equity on par with allied institutions.
Even if we engage eminent legal luminaries to fight this case by appeal ,it is doubtful we get favourable results. .Is it worth pursuing involving huge legal cost and whether judiciary will adjudicate again on this issue that has no statutory backing or force of law. At best all unions can come on single platform to take the fight to the highest level of govt using all available political clout also to seek justice and fair deal for the discriminated class of pensioners ,.For .LIC, national mother cow that has been used by the govt for various dev / infrastructure activities involving huge LIC funds and till recently in railways too for modernisation ,the demand of pension revision by retired staff won't make any dent on its financial health. The fact always remains that these employees at last stage of life made enormous contribution to the growth of LiC ,being what it is Today
H K AGGARWAL
canada
13.06.2017
In the LIC pension.rules as notified by the ministry,it is clear that there is no statutory provision for periodic pension revision except enabling clause for release of Dearness relief every six months. Even for central staff, revision of pension is not automatic on every pay revision or a part of pension service conditions.
Pension revision hinges on the recommendations of pay commission and require subsequently to be cleared by ministerial group before issuance of office memorandum for implementation. Govt on its part has to obtain parliamentary approval by way of budgetary support to give effect to proposed revision to cover the additional burden as it is paid out of consolidated fund of India.Lic which has limited space for financial autonomy has stirred honets nest by raising false hopes in employees mind by way of board resolution favouring upgradation..
All stake holders on this issue as a whole have already adequately exhausted judicial avenue and Judiciary on its part have extensively dealt with article 14,&21while examining our claim for equity on par with allied institutions.
Even if we engage eminent legal luminaries to fight this case by appeal ,it is doubtful we get favourable results. .Is it worth pursuing involving huge legal cost and whether judiciary will adjudicate again on this issue that has no statutory backing or force of law. At best all unions can come on single platform to take the fight to the highest level of govt using all available political clout also to seek justice and fair deal for the discriminated class of pensioners ,.For .LIC, national mother cow that has been used by the govt for various dev / infrastructure activities involving huge LIC funds and till recently in railways too for modernisation ,the demand of pension revision by retired staff won't make any dent on its financial health. The fact always remains that these employees at last stage of life made enormous contribution to the growth of LiC ,being what it is Today
H K AGGARWAL
canada
13.06.2017
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