Gazette notification for payment of Family pension at a uniform rate of 30% without any celling issued.

Dear Comrade ,
Gazette notification for payment of Family pension at a uniform rate of 30% without any celling issued.
A long pending demand of employees and pensioners finally clinched.

The Government today finally came out with the Gazette notification No GSR662(E) dated 11th September 2023 enhancing the payment of Family pension to LIC pensioners at a uniform rate of 30% without any celling effective from the date of its publication in the official Gazette.
With this notification, a long pending demand of the employees and pensioners is finally achieved after a long struggle.

Today is a great day for all LICan . We are really greatful to LIC management and at the same time to the Government of India.
It was a long pending issue and result of joint movement of all working and Retired Association. Long live the Association.
General Secretary.

PAYMENT OF PENSION IN TIME TO LIC PENSIONERS

MEMORUNDUM FOR IMPROVEMENT IN PENSION SCHEME

• To
• The Honorable Prime Minister
• Prime Minister’s Office
• New Delhi
•  
• MEMORUNDUM FOR IMPROVEMENT IN PENSION SCHEME
•  
• Respected Sir,
• At the very inception, we grab this opportunity to Congratulate you for once again getting reelected with huge mandate and also on your assuming the office of Prime Minister of our nation for the successive occasion. We convey our warm wishes and hearty greetings to you.
• Sir, we are an Association of the Retired Development Officer belonging to Life Insurance Corporation of India. We are covered by the Pension Scheme of 1995 as formulated by Govt. of India. Our Pension Scheme was designed as per the Central Govt. Employees Pension Rules. We are extremely sorry to inform you that our Scheme of Pension suffers from several inconsistencies and anomalies in comparison to Central Govt. Pension Rules. We on several occasion has pleaded before previous governments to iron out the inconsistencies but unfortunately our justified grievances were not addressed. We therefore give below the following points for the improvement in the Pension Scheme of Insurance Employees :-


1.The Pension for employees of LICI is not upgraded at the time of revision of pay of employees. The present corpus of LIC Pension Fund is to the tune of Rs. 53,904 Crore as on 31st March 2019. The Corpus is meant for meeting liability to pay pension, dearness relief to both retirees and family pension. It may be noted that on retirement of employees the Pension Trust of LICI purchases annuity and thus LICI’s responsibility is only towards increase of dearness relief for which additional annuities are ­­­­­­purchased as and when required. It is therefore if the Pension is upgraded with revision of pay, the impact of the same will not be much. Further we inform that RBI has already initiated a move of upgrading pension of its employees. We also appreciate that your Govt. in the past has already sanctioned One Rank One Pension for all category of Central Govt. employees. Thus up gradation of pension will solve the problem of our old retirees.

2.The Family Pension of LIC is not in par with Central Govt. Employees. The Family Pension offered to family member is so meager that they cannot afford a decent quality of life. We therefore demand that our Family Pension be at least 30 percent of last drawn pay of employees across the board for everyone. The regular full pension for family pension be payable on death till his| her date of retirement and up to of age 67 years if death occurs after retirement..

3.The full pension eligibility be amended for LIC employees to 20 years service instead of 33 years. The RBI/NABARD has already revised the same to 20 years.

4.Additional Pension as per Central Govt. Employees be sanctioned for retirees as they cross 80 years for age.


• We crave you kind indulgence into the matter and accord sympathetic consideration to the Senior Citizens.
• With kind regards.
• Yours faithfully
• Swapan Kumar Chakraborty
  General Secretary.

Lic Mediclaim

Lic Mediclaim