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Saturday, October 03, 2015

PENSION UPGRADATION OR DOWNGRADATION ?


Referring to my earlier post today, I would like to correct myself in regard to the percentage of retired RCs & Class IV employees at 18%  which I discovered  was  overestimated by me. This was noticed by me when I went through the August 2003 illustrative chart prepared  by LIC CO  sent to the  Joint Secretary(Insurance & Banking) on 11/8/2003.

In the said chart, the number of retired employees cadre-wise has been given in one column. I am attaching a word document prepared by me based on the two charts prepared by LIC-one for pre-Aug 1992 retirees and another for Aug 1992---July 1997 retirees.

The indications arising out of the illustrative charts are as follows:

·         As per the Letter ref Per/ER dt 20/2/2009 addressed to Sanjeev Sinha ,Under Secretary to GOI,DFS,MoF, there were 16498  pre-August 1997 retirees  who were drawing pension, whereas  when the calculations were made in the illustrative chart by LIC in August 2003 which was sent to the MoF, the total no was 21762.This would mean that  during the period of about 5   1 /2 years as many as 5264  pre-August 1997 retirees have left this world without getting  justice. Their family pensioners may not also get justice if LIC continues to follow its anomalous approach.

·         Class III employees who have retired  prior to 1/8/1992, who constitute  more than 47%  of the retirees in the category, and Development Officers who constitute  more than 15% of the  retirees  are in the negative territory  in the matter of pension revision. This is an alarming situation. Interestingly retired Record Clerks in this category are in marginal positive territory compared to their higher cadre Class III colleagues
.
·         Among post August 1992 retirees; retired Record Clerks who constitute 2.7% and Class IV employees who constitute 5.9% are in negative territory.

These data must be sufficient to drive home the point  in the Apex Court that  the faulty approach of  LIC is detrimental  to the interest of  more than 28% of the pre August 1997 retirees who will have their monthly pension reduced  besides 100% of the family pensioners of  deceased pre-August 1997 retirees.

Greetings.

C H Mahadevan 

CLICK HERE FOR THE CHARTS
CADRE-WISE CALCULATION S OF REVISED PENSION MADE BY LIC AS AT 1/8/2003

PRE-AUGUST 1992 RETIREES  AS AT 1/8/2003
CADRE
No of Pensioners
 Maximum Basic Pension
(Rs)
Existing Pension as at 1/8/2003

(Rs)
Revised Pension as at 1/8/2003 as per LIC Calculations

(Rs)
Difference



(Rs)
ED
23
3500
10503.42
10805.76
302.34
ZM
24
3275
10102.85
10365.61
262.75
SDM
73
2975
9568.765
9778.73
209.97
DM
128
2675
9034.675
9191.86
157.18
ADM
579
2525
8767.63
8898.42
130.79
AO
625
2260
8295.85
8373.64
77.79
AAO
485
2130
8064.411
8092.75
28.34
HGA
1016
1850
7208.825
7201.38
-7.44
ASST
2744
1610
6362.945
6359.21
-3.73
DO
1211
1940
7526.03
7517.2
-8.83
RC
335
1000
4075.3
4076.5
1.20
DRIVER
42
905
3688.147
3689.24
1.09
PEON
601
755
3076.852
3077.76
0.91
SWEEPER
59
725
2954.593
2955.46
0.87
TOTAL
7945
 Note: For Class I Officers, the retirement period is 1/8/1987  to 31/3/1993


RETIREES OF THE PERIOD 1/8/1992 TO 31/7/1997
CADRE
No of Pensioners
 Maximum Basic Pension
(Rs)
Existing Pension as at 1/8/2003

(Rs)
Revised Pension as at 1/8/2003 as per LIC Calculations

(Rs)
Difference



(Rs)
ED
53
7000
12036.08
13042.47
1006.39
ZM
36
6325
11165.47
11971.44
805.98
SDM
147
5725
10391.59
11019.42
627.83
DM
478
5225
9746.685
10226.07
479.39
ADM
1534
4975
9424.235
9829.39
405.15
AO
1614
4485
8792.233
9051.9
259.67
AAO
1070
4255
8495.579
8686.96
191.38
HGA
3295
3695
7609.071
7692.72
83.65
ASST
3202
3210
6671.178
6722.15
50.97
DO
1192
3760
7734.768
7822.79
88.03
RC
379
2235
4753.845
4750.5
-3.34
DRIVER
59
1995
4243.365
4240.38
-2.99
PEON
670
1710
3637.17
3634.61
-2.56
SWEEPER
88
1610
3424.47
3422.06
-2.41
TOTAL
13817
Note: For Class I Officers , the retirement period is  1/4/1993 to 31/7/1997
CLASS WISE BREAK-UP OF PRE- AUGUST 1997 RETIREES
Class I
Class II
Class III
Class IV
Total
Retired before 1/8/1992
1937
1211
4095
702
7945
Retired from 1/8/1992 to 31/7/1997
4932
1192
6876
817
13817
Total
6869
2403
10971
1519
21762
CLASS WISE  PERCENTAGE BREAK-UP OF PRE- AUGUST 1997 RETIREES
Class I
Class II
Class III
Class IV
Total
Retired before 1/8/1992
24.4
15.2
51.5
8.8
100
Retired from 1/8/1992 to 31/7/1997
35.7
8.6
49.8
5.9
100.0
Total
31.6
11.0
50.4
7.0
100.0
Percentage of  Pre-August 1992 retirees in negative territory
62.6
Percentage of  Pre-August 1992 Class II retirees  to total  in negative territory
15.2
Percentage of  Pre-August 1992 Class III retirees  to total  in negative territory
47.3
Percentage of Class III Retirees from 1/8/1992 to 31/7/1997 in negative territory (RCs)
2.7
Percentage of Class IV   Retirees from 1/8/1992 to 31/7/1997 in negative territory
5.9

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