I forward a Table of DR slabs and quantum for the various cadres of retired Class I Officers of the Group 1 & 2 retirement periods showing the effect of 100% neutralisation of DR if provided by LIC/GOI as a sequel to the same likely to be implemented for Bank retirees of the pre-November 2002 period.
It will be observed therefrom that the Group 1 Class ! retirees are likely to get a higher quantum of monthly increase than Group 2 retirees for the simple reason that the modification of DR by DHC judgment has not been done rationally and added to that ,LIC had implemented the judgment faultily in respect of Group 1 retirees who got a raw deal as a result.
This injustice for Group 1 retirees will be more unfair for pre-April 1993 Class I retirees if not done retrospectively from 29/1/2007 as they will suffer huge recurring loss compared to Group 2 retirees.Prospective effect may also lead to litigation initiated by aggrieved Group 1 retirees/pensioners.
In order to avoid such a situation, LIC has per force provide 100% DR neutralisation at least from 29/1/2007 from which date partial relief provided by Delhi High Court took effect.It is anybody 's guess how LIC/GOI will decide in the matter.
C H Mahadevan
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