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

Monday, May 09, 2016

IR CALCULATION


9 May 16, 01:46 PM

S.r.Nagarajan: Sri. B. Gangaraju's comment on SN1992 advice to concentrate on the main issue is sound common sense. His suggestion that pre 8/97 pensioners may lodge protest letters to LIC Chairman to say "we accept under protest and without prejudice to seek remedy'' is practical. Hope all Assns will adopt this and advise their members suitably. I am happy that the giant AIIEA's pensioners forum AIIPA is also at last taking interest in this matter. Praying for GOOD LUCK to our fraternity.

9 May 16, 01:36 PM

JM Aboobucker: I fully concur with the suggestion of M/s SN and BGR that we should NOT spend our valuable time and scarce resources for getting a CORRECT Calculation of the 40% IR. As mentioned in the SC judgment of 31-3-2016 "IR is IR" and that has has to be adjusted from the final payment after we win our case.