Already we are under constant dread by the outbreak of Corona virus and under lock down.
In aggravation of the situation,we have seen today an Office Memorandum dt 23/4/2020 issued by the Department of Expenditure by the Government of India declaring a freeze on DA / DR for Central Government employees/pensioners for 18 months from January 2020 to June 2021.
This portends the shape of things to come in respect of LIC/Bank employee/pensioners.We seem to be in for a tightening of our belts for a year at least.
Already we have got a severe blow in Group Mediclaim by an increase of 11.74% in the premium with many of pensioners having opted for the maximum sum insured of Rs 50 lks.The options are irrevocable.So far we could afford to pay increased premiums thanks to the half- yearly increases in DR that we have been getting and it appears, it may not be long before our DR increases may also undergo a freeze.
The question now arises whether the high premiums under the sums insured opted for by us are affordable.We need to approach the LIC Management organizationally for providing all pensioners an option to reduce the sum insured for the Floater Cover.Already family pensioners are placed at a disadvantage of having to pay a Mediclaim premium under Table A many a time of more than a month's family pension which is begging for revision on par with that for family pensioners of Central Government & RBI.
I feel that all the pensioners' organisations need to seriously ponder over the matter and take suitable steps.
C H Mahadevan
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