Ex-gratia to Pre 1986 Retirees and Surviving Spouses in LIC

In LIC a Retiree gets an Ex-gratia of Rs.5,811-50 &

A spouse of deceased Retiree gets Rs.2,905-75

But the difference between Bank & LIC Ex-gratia recipients is that in Banks receive Rs.10,000/- pm although the Ex-gratia amount works out to Rs.5,811-50 & Rs.2,905-75 respectively. *So, it will take many years to cross Rs.10,000/-. Till then they will be benefitted.*

Banks have gone ahead of us in many aspects :

1) Pre-2002 Pensioners are getting 100% DR neutralization. 

In LIC pre-1997 Pensioners are still getting tapered DR.

2) Resignees in Banks are given

Pension Option.

In LIC Resignees are deprived of this.

3) Pensioners are getting monthly ex-gratia.

LIC Pensioners are deprived of this.

C T JOSHI