I give an extract from the financial results for the quarter ending 30/9/2023 as published in the LIC web site:
"An additional contribution of Rs. 11,95,952.00 lakhs is estimated towards increase in family
pension due to amendment in UC (Employees) Pension Rules.out of which, the Corporation
has provided an additional liability of Rs. 2,67,915.00 lakhs during the quarter ended
30.09.2023 towards existing family pensioners. For remaining liability, the Corporation is
seeking approval for similar accounting treatment as mentioned in point no. 4 above".
Item 4 relates to OMOP where the additional contribution was amortized over 5 years.
C H Mahadevan
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