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Sunday, October 04, 2015

Pension upgradation or downgradation?‏


I write this in continuation of my yesterday's post on the subject.

The disparity in Basic Pensions has risen to monstrous proportions between different groups of pensioners and this needs to be addressed in full vigour to secure fair play to all pensioners. But in the process, interests of a section of pensioners {pre Aug.97} should not be compromised.

LIC in the guise of merging three groups of pensioners and bringing 100% DR neutralisation to pre-1-8-97 pensioners employed a ploy to deny the legitimate DR benefit legally and justly due to them. By accepting the methodology adopted by LIC to calculate the IR we should not fall into the trap. Our demand is twofold.- one is removal of discrimination in DR formula to pre-1-8-97 pensioners and the other is pension upgradation to all. Removal of DR discrimination to pre-1-8-97 pensioners from 1-8-97 should take place first and merger of groups etc., should follow. This procedure will bring better DR benefits to pre-August 97 pensioners and post-August 97 ones are not going to lose anything. and they should support the above suggestion whole-heartedly so that the earlier group gets FAIR PLAY.

I appeal to all to ponder over the matter.


T. LAKSHMINARAYANAN