Any write up on the corporates should contain about the gains and losses of its workmen. In the case of LIC, the employees ,they started with good wages with pension in a a major private insurer Oriental like Imperial Bank/SBi. Unit employees of 245 private insurers who faced "Hire and Fire "every day wanted security of jobs supported the TU under ID Act !947 with 85% strong. But for political reasons only TU among PSu-s made them to act like Luddites of 18th century toward pre-computer age Main frames without Internet which no one imagined then. Consequently they lost TU rights in the name of Sec 48 of LIC Act which is heavier than loss of money ie.,pension like SBI. As workmen didn't insist on their mentor for the loss of two essentials in the name of security of jobs. An imagination of loss of jobs is preposterous in a Socialistic Pattern of Society advocated by first PM at Avadi congress in 1955 just before Nationalisation of Life Insurance. So in LIC during first 37 years workmen with Stagnant wages/ no pension unlike SBI established in1955 and all died in penury with entry cadre becoming life long cadre. In all PSB-s all Bank clerks becoming Officers who are double the number of former. In LIC the situation is opposite. Class Three is double the number of Officers. One don't want to comment court case of Pension Upgradation of two decades, the result may be favourable after all pension op-tees expired unless they utilize many ways to compel GOI to contribute the shortage in Pension fund for arrears from 1.8.97 till this day from the Windfall Profit of more than 7 to 10 Lakh crores as per the so called actuarial report said to be with LIC, the details of which are unknown. In LIC arrears are possible even for 69 years, if there is a will to achieve than legal process unlike in highly profitable RBI workmen lost arrears.
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Any write up on the corporates should contain about the gains and losses of its workmen. In the case of LIC, the employees ,they started with good wages with pension in a a major private insurer Oriental like Imperial Bank/SBi. Unit employees of 245 private insurers who faced "Hire and Fire "every day wanted security of jobs supported the TU under ID Act !947 with 85% strong. But for political reasons only TU among PSu-s made them to act like Luddites of 18th century toward pre-computer age Main frames without Internet which no one imagined then. Consequently they lost TU rights in the name of Sec 48 of LIC Act which is heavier than loss of money ie.,pension like SBI. As workmen didn't insist on their mentor for the loss of two essentials in the name of security of jobs. An imagination of loss of jobs is preposterous in a Socialistic Pattern of Society advocated by first PM at Avadi congress in 1955 just before Nationalisation of Life Insurance. So in LIC during first 37 years workmen with Stagnant wages/ no pension unlike SBI established in1955 and all died in penury with entry cadre becoming life long cadre. In all PSB-s all Bank clerks becoming Officers who are double the number of former. In LIC the situation is opposite. Class Three is double the number of Officers. One don't want to comment court case of Pension Upgradation of two decades, the result may be favourable after all pension op-tees expired unless they utilize many ways to compel GOI to contribute the shortage in Pension fund for arrears from 1.8.97 till this day from the Windfall Profit of more than 7 to 10 Lakh crores as per the so called actuarial report said to be with LIC, the details of which are unknown. In LIC arrears are possible even for 69 years, if there is a will to achieve than legal process unlike in highly profitable RBI workmen lost arrears.
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