Monday, January 24, 2011

High Court ordered pension parity to LIC pensioners.

The Rajasthan high court has come down heavily on the "inaction" of the Life Insurance Corporation of India (LIC) for not adhering to its board resolution to pay equal pension to all the retirees across the country irrespective of their date of retirement.
The division bench of Justices Dalip Singh and Mahesh Bhagwati directed LIC to give effect to its board decision dated November 24, 2001 to revise the pension and Dearness allowance ( DA) payable to its retired employees corresponding to the successive revisions of the pay scales that took place in 1986, 1993, 1997, 2002 and 2007 respectively.
The court verdict is bound to effect thousands of retired personals of LIC across the country.



Source : PTI

7 comments:

BALAN said...

ALL OF US WILL PRAY GOD THAT THE JUDGEMENT SHOULD REACH THE CORRIDORS OF POWER CENTRE AND LET THEM IMPLEMENT THE JUDGEMENT IN LETTER AND SPIRIT NOT ONLY TO LIC EMPLOYEES BUT ALSO TO BANK ,RBI EMPLOYEES AND ENTIRE FINANCIAL SECTOR WHO ARE PLACED IN A SIMILAR POSITION.LET THEM NOT APPEAL AGAINST IT DETRIMENTAL TO THE INTEREST OF THE EMPLOYEES.
BANK EMPLOYEES CASE IS COMING TIMELY ON 31 ST OF THIS MONTH FOR FINAL DISPOSAL IN THE SUPREME COURT AND LET SRI. PRAVEEN KUMAR WHO IS APPEARING ON BEHALF OF THE BANKMEN SHOULD MAKE 31 ST AS A HISTORIC RED LETTER DAY IN THE ENTIRE FINANCIAL SECTOR AS THEY SHOULD ALSO ACHIEVE FULL PENSION BENEFITS WITH THE DIRECTION OF THE COURT .LONG LIVE JUSTICE LONG LIVE COURTS WHO ARE ONLY HOPES OF THE NATION IN THE PRESENT CIRCUMSTANCES

K BALASUBRAMANIAN RETIRED SENIOR MANAGAER INDIAN BANK

e.sun coimbatore shares said...

Dear Mr. Chandan, I am an exserviceman with 15 years of service getting defence pension. Later I joined a PSB and got special vrs in 2001 after 14 years of service. Now, my option for second pension is declined. I request your help and advice, whether, 1)I can get service relaxation to get bank pension or 2)is there any possibility to merge the defence service 15 years with banks 14 years service to get ONE pension. pls reply at the earliest. smesan@gmail.com
January 20, 2011 7:51 PM

DEFENCE PBOR PAY AND PENSION said...

I am an exserviceman with 15 years of service getting defence pension. Later I joined a PSB and got special vrs in 2001 after 14 years of service. Now, my option for second pension is declined. I request your help and advice, whether, 1)I can get service relaxation to get bank pension or 2)is there any possibility to merge the defence service 15 years with banks 14 years service to get ONE pension. pls reply at the earliest. smesan@gmail.com

JUSTIN said...

great news for retd licians.now the lic pensioners will njoy pension parity. i pray min of defence should learn from this and sanction orop to retd defence pensioners.

k.bhaktavatsala rao said...

How many days/months/years is required for LIC to implement its own circular for revision of pension to its own staff/officers who retired long back. Even as of now, many pensioners died without enjoying the revision. Still how many to die to see the implementation of judgement of a high court.... A RETIRED OFFICER FROM HYDERABAD WHO IS ON DEATH BED.

aditya singh said...

Thanks for sharing this valuble information,it is useful for us and LIC

customers in Hyderabad

Venkatesh Reddy said...

Thanks for sharing this valuable information and it is useful for those who need LIC Advicer in Hyderabad

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