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Saturday, 11 May 2024

Lumpsum Ex-gratia Payment

1)  One has to view such a situation in proper Legal perspective 
This is pure& simple Exgratia for past Meritorious services rendered by retirees for.the cause of the Corporation
   It is subject to normal ITrules & taxable
 No.Point in.some saying SBIs was 75 yrs & above,ours LIC is 70 yrs & above as on Date of Notification 752024.
    2)   Some methodical steady Activists also succumb pleading with LIC for Mly Notional PU Pension Revision with Every Wage revision , as was offered to Bank Pensioners. 
     That is unnecessary & Dangerous to tread.At this stage pensioners of different hues & colours must be STEADFAST  ONLY to SACRED Principles propounded by ApexSC in ever so many historic verdicts on Effective Date & SC has been merciless on requests from Institutions to a later Date of decision making, which SC has stoutly rejected
    3)  Yet surprising in spite of earlier circulating even in March 2019 on Disappointing & Dangerous RBI Prospective PU  with Multiplier factors for the last 3 wage settlements low & even verylow ,with wholesale Codemnation by RBI.Pensioners Fraternity of Heavy loss of Arrears ranging from.Rs25 lacs to Rs 65 lacs
     4)Just because of purely different stage & environment of Position of Bankers, if IBA & MOF agreed & offered Measly Mly Pension recurrent  ,there is no need to mimic that WRONG  Parallel for Giant LIC in terms of financial Solvency & Stability 
     5) Many must have noticed Adjectives like Historic  & Bettered the Best Bonanza ,compared to 182017 to 3172022! Latest wage Notification.

     6) Equally why shd we forget correct Indisputable Parameters like AIRIEF delineating authentically that Big jump in Family Pensioners,Death of 21500 Pensioners dead& dying, FP to RP has risen from 18/20 % to 45/ 50 % in many Zones & if All India is RP 50000 & FP 24000,GT 74000,LIC Expenses will be lower, NPS started from May 2010 & run.good 14 yrs already, there is NO UNLIMITED ,ETERNAL   PU& automatically PU extinguishes itself 
    7) Point for Focus shd be TOTAL UNDILUTED  UNADULTERATED PU VICTORY in SC without drawing any SIDELINES or Creating DISTORTIONS & Differences & focussing thinking on calm& clear, sanguine & hopeful positive lines Accelerating this Noble Prayer of securing Twin Benefits of PU,Pension Revision.with every Wage revision & Full DR to pre81997 Pensioners on.par with Post 81997 Pensioners & Employees already getting 100% DR.
      8)Any detouring or debating will.spoil.the atmosphere & wreck the Ethical & Empathetic& Legal & Justiciable Solution & SCOrders ,as earlier SCBench indicated clearly ,they are prepared to sit for 2 continuous days & conclude the submissions from all.sides. May be after SCVacation ,4th July or so.
   9)Friends , I was aghast but delighted to Note
*Personal Cadre Pay  is increased substantially for All cares
** CMB Cash Medical Benefit CMB which AIRIEF has been insisting last 2 & more years repeatedly for Pensioners as NO DOMICILIARY & Heavy expenses for Self & Spouse Curtailing the pension.Sizeably,not given , is again Enhanced considerably from Class 3&4 to Class 2 DOs to 2 level BasicPay for Class 1 
*** Look  even Meals Coupon  for ALL
 Classes started from.1st September 2010 Anniversary ,again refurbished with substantial Allowance
Rs250crpa in 2010 to Rs 650.cr pa in 2023, all HAPPEN comfortably for Employees but nothing equivalent, when it comes to poor aged Sr& SuperSr Citizens.
     
 10) It is this AMBIVALENCE ALL.PENSIONER GROUPS must unanimously Pursue & not benefits devoid of Logic 
   11)  If Hon Chairman has said in Joint Meetings of Pensioner Fedns,when asked on Super Sr Citizens 80 85,90 95 ,100& above to gain agerelated ,valueadded rise of 20% 30 40 50 & 100%, of Badic Pension & we calculated for such Highage Groups just Measly Rs110crpa app .

12) LIC Top Mgt cannot push through but ANY & EVERY MYRIAD Old & New Allowances dished out  do it no.problem  BUT HAVE MERCY  ON NEGLECTED  Sr Citizens for a GENUINE CAUSE, that is all we are driving at. 
 13)   EQUALLY ,see how unobtrusively LIC,NEW INDIA thrust HIKE on Group Mediclaim premium of app.11.60% WITHOUT any WORTHWHILE benefits covered.How many useful Suggestions by How Many Employees & Pensioners Fedns fallen on deaf ears 
  SAGACITY,SANITY & UNANIMITY dire NEED OF THE HOUR
FAITH & PRAYERS 
RBKISHORE 

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