Pending pension related issues

Regn No.PN 4769 (Regd under Indian T U Act, 1926)

(Affiliated to Bharateeya Mazdoor Sangh)

BMS Office, Vishwakarma Bhavan, 185, Shaniwar Peth, Pune 411030.

President: T.C. Gunesh Kumar Mob No: 9880683639

Working President: Vilas V. Purkar Mob No: 9922166599

General Secretary: Ashok J. Joshi Mob No: 9561084182 & 9945104570

Date: 25-07-2023

Cir No 22/2023 

The Chairperson,

L I C of India, 

Central Office, 

"Yogakshema", 

Jeevan Bima Marg, 

MUMBAI 

Dear Sir, 

Re: Pending pension related issues

This is further to our various letters regarding the captioned matter. It is a matter of great concern that till date notification for family pension enhancement has not been notified. We had met the Joint Secretary (Insc) on 02-03-2023 and again on 12-07-2023 under the leadership of BMS, Central Office to follow up the pending pension related issues at the DFS.

It is note worthy that the pensioners/family pensioners of RBI got the second updation of pension as on 1-11-2017; and 2 days back pensioners and family pensioners of NABARD got the updation -first one effective from 1-3-2019 and second one effective from 12-6-2023.

The efforts are afoot to consider the pension updation for the pensioners of PSU Banks, since the high­powered committee is formed by the finance minister to deal with the issue, giving deadline for the submission of report.

As such, we urge upon you- to recommend 1) the updation of pension and family pension, if not done already, 2) full pension for 20 years' service, 3) pension option for resignees (whose number may be less than 1000 to the DFS. We also implore upon you to pressurize the DFS for granting their immediate approval for other pending issues (supposedly recommended by the LIC) such as -1) One more pension option to the few left over cases of ex-servicemen and directly recruited SEs, 2) Computation of pension at the rate of 50% of revised basic at the time of retirement, 3) Increased pension to those aged 80+ , 4) Double the family pension up to age 67 yrs, in case of death of the pensioner & 5) Enhancement of family pension to 30% of last pay drawn without ceiling.

It is to be seriously taken note of, that pensioners/family pensioners have become impatient, having no mood to wait any further.

Now the atmosphere is conducive, since the finance ministry has approved pension updation to the pensioners in the financial sector. Hence, we entreat upon you to vigourously take up the matter with the DFS, to get their accord to all the 8 pension related issues referred to hereinabove.

We fervently hope that the matter would be taken to its logical conclusion through the serious efforts from your end and oblige.

With kindest regards,

Yours Sincerely, 

General Secretary