* CHRONICLE - PENSIONERS CONVERGE HERE, DISCUSS ISSUES OF THEIR CHOICE * CHRONICLE - WHERE EVEN THE CHAT COLUMN PRODUCES GREAT DISCUSSIONS * CHRONICLE - WHERE THE MUSIC IS RISING IN CRESCENDO !

               
                                   

Tuesday, November 19, 2013

POST 2



(Continued from POST 1)
7. Even if outlay did not figure at all in LIC submissions, such real figures will bring truth about this laudable, stable solid, solvent institution, a Rock of Gibralter & an undeclared Navarathna & also more particularly, how demands of pensioners are so  realistic & modest.
a) Surplus 5 % to Govt Rs 830cr,929cr, 1031cr for 2007/08, 2008/09 & 2009/10,Rs1138cr in 2010/11 & Rs1282cr in 2011/12.
b) Taxes paid to Govt stood at Rs3625cr,3973cr & 4425cr for 2009/11,2010/11 & 2011/12
What more testimony is required
c) Surplus last 14 yrs alone, LIC paid to Govt Rs 7,873 cr, a Kamadhenu indeed & all on a mere Rs.5 cr given by Govt on 1/9/1956.  
d) 5-Year Plans, People money for People Welfare, tremendous fillip given by LIC to Nation & citizen’s welfare. 
e)  LIC  an Economic Tajmahal, Assets, Life Fund, Total Income - all staggering. A staggering Rs15.6 lac crores assets, Rs13.3 lac crore Life Fund & a whopping Rs 3.3 lac crore Total  Income.  LIC  Solvency & Solidity is unquestionable.
f)  WHAT AN ENTITY, IN FACT ALL CONSTITUENTS OF SUCH EMINENT INSTNS MUST HAVE ALL BENEFITS, PERKS  MUCH  MUCH HIGHER  FOR THE OUTSTANDING PERFORMANCE.
8. GOVT REGULAR PENSION IS FAR FAR HIGHER THAN LIC. Many are not aware that even Govt Family Pension is higher than LIC Regular pension.
VI Pay Commission also added value rightly, increased % of pension at ages 80,85,90,95 & 100  years to the tune of 20,30,40,50 &100%,which we don't secure & that demonstrated empathy towards Elders.
 9. A) i) Outlay needed is not even the tail of the Wage agreement PLLI  or  the tail of the Meal Coupon gift  on September Anniversary 2010 or a tail of other Allowances other than DA, HRA, CCA again for all There should not be a miserly, lackadaisical treatment meted out to diminishing tribe of pensioners ,who brought name, fame & reputation to the  Institution. Board consent was secured last year, tho PLLI norms were not met & employees got benefit of 4%, even if not qualified. For 3/2013 also, Unions have placed request for general waiver in view of insurance industry as a whole failed to perform satisfactorily !! Why not this magnanimity be exhibited towards lesser mortals like pensioners, who richly deserve more. Similar such outlay can well go to grant pension upgradation & to augment pensioners welfare.
ii) The number  of pensioners stood  at 38,200 in 2006-07,38434 in 2007-08 & 43,043 in 2010-11. It is just 1907 pensioners only per Year added All India, app 238 per Zone. 
B) TOTAL OPERATING EXPENSES  & EMPLOYEES REMUNERATION & WELFARE EXPENSES.
I extracted from LIC performance as at 31/3/2011 from website & audited accounts
 a) TOTAL OPERATING EXPENSES
-- 31/3/2010 : RS12,246CR: RS422CR PENSION PYTS 3.45% only
--31/3/2011 : RS16,980cr: RS497CR PENSION PYTS 2.93% only 
b) EMPLOYEES REMUNERATION & WELFARE EXPENSES:(inclusive of Employees & Pensioners)
                          31/3/2010 :Rs8053 CR:RS422CR PENSIONPYTS 5.24% only
                          31/3/2011:Rs12,055cr:497cr PENSION PYTS 4.12% only
10.  Recently,while inaugurating 300 Mini-Offices of LIC,which was a Budget action plan, FM Sri P. Chidambaram said,’the performance figures of LIC give an indication why LIC is dear to us.LIC is a jewel in our crown.&  we will continue to nurture LIC.  LIC  is not only a market leader, but also a market maker. The 3 letter ‘LIC’ stand as a synonym for insurance, for excellence in strengthening the economic fibre of this country. I dare to say that no other 3 letters taken together are more recognised in the length & breadth of India. I am proud of what LIC has achieved in 57 years, but as long as there are uninsured people, the task of LIC is not over.’
SHOULD NOT LIC NOW HONOUR COURT VERDICTS, ONE BY ONE , all of which has come only in PENSIONERS  FAVOUR?
11.  When all promises are kept, when LIC has donned such a powerful & instrumental role in nation's economy, helped Govt to stabilise stock markets, lent tremendous assistance by way of Social Security for Aam Admi, inclusive growth & above all such a sterling contribution to Govt 5 Yr Plans, Peoples Money for Peoples Welfare, in almost all sectors of people & society & nation development & when Pensioners for long yrs 35 & more have done yeoman service  & built Foundation, erected fine Superstructure, ably galvanized  with Reorganisation in the 80s , made the INSTN bear intense  COMPETITION WITH CONFIDENCE & COURAGE, such  a Paltry pension, not befitting on the institution for no fault of pensioners.  EVEN with all these facts, figures,  reason & logic, public tribute & standing, unqualified praise from FM & PM, it is disturbing that Pensioners should be treated so bad, UNWEPT, UNHONOURED & UNSUNG.
12. More than 12 years, money, labour, energy, inconveniences, delay, adjournments, court rules & procedures, adverse health, sacrifices are being silently borne by pensioners, activists straining to maximum even in adversity. We shed tears for those who died in thousands all these years. Family pensioners have crossed 13,000 out of total 45,000 pensioners app. FP % to RP-Regular Pensioners has jumped from 17 % to 38 %, sad indeed.  Lack of money power, lung power, muscle power, political power, must be compensated & addressed by only by High Courts & Supreme Court.
Facts are clear as crystal, reason & logic of demands are powerful, no one can deny discrimination, decades have rolled by, none to wipe the tears, demands are modest & legitimate, Court victories are galore & successive, one after another.
13. a) SJ Hon Justice Bhandari’s judgement dt 12/1/2010  was allowing both the writs 6696/1998  pertaining to Full DR & 654/2007exclusively on pension upgradation.
It also means that Hon SJ has gone through the submissions by both Counsels & quoting relevant portions & arguments came to definite conclusions and issues orders covering both the issues affecting pensioners. Pension revision with successive wage revisions have been upheld conspicuously & unambiguously 
Jaipur Single judge Hon Bhandari in his order has observed as follows:
“Learned counsel for petitioners has further submitted that there exists anomaly even in regard to the revision of the pay scale. The benefit of revision in the pay scale from time to time was not extended to the pensioners. In view of aforesaid, even an officer retiring in the higher pay scale started getting less pension than to the employee retiring subsequently in lower pay scale. Aforesaid aspect was also considered along with the first issue, by the Board in its meeting held on 24.11.2001
b) Hon’ble Rajasthan High Court has held that, on the basis of date of retirement, there cannot be any discrimination between the Pensioners inter se.  All pensioners are entitled to revision of pensions as and when pay scales are revised. The decision of the Board taken in its meeting dated 24/11/2001 but not implemented on account of misnomer of approval of the Central Government has been directed to be implemented with the above modifications.
(To be continued)