The Gazette Notification recently issued on OMOP and also the LIC CO circular issuing administrative instructions cover employees who were in LIC service any time before 28/6/1995 and employees who were in LIC service any time before 28/6/1995 and retired thereafter and also those who were in service any time before 28/6/1995 and died either while in service or died after retirement leaving their spouses to claim family pension.
In the letter addressed to the MoF on 30/10/2014,LIC had while giving the number of employees to be considered for OMOP,had given a figure of 2120 as 'Exited employees' consisting of retired/resigned employees and also furnishing an estimated liability in respect of these exited employees.
The resignees are impliedly those employees who had completed 20 years of service in the Corporation before submitting resignation before the date of the Pension Notification, viz 28/6/1995.
But the term 'resignee' is conspicuous by its absence both in the latest Gazette Notification and also LIC CO Circular.The letter of 30/10/2014 addressed to MoF is very clear in its intention,willingness and capacity to treat the resignees as deemed voluntary retirees who however have been excluded by OMOP.But I feel that the post 1986 resignees with 20yrs plus service are justified in claiming entitlement to be covered by the OMOP Notification.
I am sure a small number of such ex-employees will also represent to be included in the OMOP so that litigation can be avoided from the small number of such employees. Let us wait to see how LIC responds in such cases.
I attach the copy of the CO letter dated 30/10/2014.
C H Mahadevan
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