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

Wednesday, May 11, 2016

M Sreenivasa Murty


Dear LIC Pensioner colleagues,

40% =? The much awaited IR payments started getting credited to the Bank Accounts of eligible Pensioners. Our worst fears are coming true. We may receive about a third of what we should. Our mighty Corporation is a Law unto itself. It says ‘who is Supreme Court to tell us how to (ill) treat my Pensioners? They are a spent force – they can do nothing’.

It’s OK. While the flipside is the wrong interpretation and calculation of Para 27 of the Judgement and the 40% calculation of the amount as per Para 3 A of the Appendix IV of the Pension Rules, respectively, there are for once, points to feel good after all.

The payment is for ALL SIMILARLY PLACED, (unlike what some of our own friends/leaders have worked for and accepted in the past; It is not 20% but double that now, again unlike what our friends/leaders had reconciled to in the past. Finally it is within the time mandated by SC unlike post 7 May 2015 Order, once again unlike what our friends/ leaders had reconciled to in the past. In other words, ALL SIMILARLY PLACED Pensioners now receive something, in spite of some of our own friends/leaders’ own agenda to the contrary.

We have a long arduous way to traverse. And keep fighting on more fronts. We from the Hyderabad Association are doing our best to serve our fraternity. Your help, co-operation and support are solicited. Please contribute liberally to our Legal Fund: