FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS
S. K. AWASTHI
Ph: 9451663802, 7007886404
Email:
SECRETARY (COORDINATION.):
O. P. VASHISHTHA
Ph: 9412992518
E mail:
11-05-2024
Sri Siddharth Mohanty, Chairperson, LIC of lndia, MUMBAI.
Re. Ex-gratia to pensioners
Dear Sir,
The Federation of Retired LIC Class I Officers' Associations thank you as L. I. C has considered and conceded our demand, raised through our letter Ref SKA/CO-5 dated 4.7.2023 addressed to the then Chairperson, to consider over a Scheme for LIC Pensioners akin to the Scheme brought out by SBI, as "SBI SALUTES " to pay one time lump sum payment to its pensioners, in acknowledgement of their contribution in the growth of the SBI. The same Scheme was discussed with you along with Sri Sat Pal Bhanoo ji, MD, when our team met you on 6.12.23 in your chamber. We thank you and MD Sri Sat pal Bhanoo ji for making it a reality. The Scheme brought out for the Pensioners / Family Pensioners including the Pre 1986 retirees is a much improved version of SBI SALUTES. Unlike SBI, LIC has decided to extend the benefit from age 70 years as against 75 years in SBI .
We compliment the LIC for having acknowledged the contributions made by the pensioners by their exceptional professionalised work during the service period to bring the Organisation to the present shape. But the Scheme has a grave deficiency as it undermined the contributions made by those pensioners who are below the age of 70 years by denying them the benefits of the scheme, which is highly unjustified and needs to be addressed by the LIC. The reason being that almost every retiree either below or above age of 70 years, has contributed his or her might in shaping the LIC, approximately for a period of 38 to 40 years on an average. When the services put in period of all the retirees is almost the same, then why this discrimination with the retirees of below 70 years? Equal labour should be equally compensated. We, therefore demand you to reconsider over it and do away with this discriminatory barrier and make the scheme available to all pensioners.
Furthermore, the scheme is silent as to how the pensioners who were given the higher scales on promotion, would be treated. In all fairness, all such retirees must be treated in the cadre to which they have been promoted and got the scale. A clarification from C. O in this respect, would be appreciated to make the things clear to the disbursing units so that no mistake is made.
Sir, we wish to make it clear that Ex-gratia payment has no linkage with our demand of periodical Updation of Pension. We take this opportunity to compliment the LIC Management for having given an excellent Wage Revision to the In-service work force, which has placed them in a much much better position than Bank work force. But in the matter of Pensioners, the situation is just the reverse. The Bank pensioners and LIC pensioners are sailing in the same boat demanding Pension Updation. The Bank pensioners have been awarded with an Ex-gratia payment, payable every month in the current wage revision with retrospective effect, with the Concurrence of Govt., placing them in a better position than the LIC pensioners. WE THEREFORE DEMAND AND REQUEST YOU TO CONSIDER A SIMILAR MONTHLY PAYABLE EXGRATIA PROPOSAL AND SEND THE SAME TO GOVT. FOR LIC PENSIONERS TOO, TILL THE UPDATION OF PENSION HAPPENS . We hope the management would take suitable steps and action in this regard.
Thanking you once again, with the hope that pensioners issues would be resolved on priority basis. With Regards
Yours Faithfully
S. K. Awasthi.
General Secretary
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