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Friday, May 13, 2016

Re 40% Interim Relief


LIC has picked only the 0.23% from para 3A but conveniently bypassed the SC direction of proper application of para 3A for pre-Aug 1997 retirees.

In a blatant and unscrupulous move, LIC has chosen not to recognize the fact that in the application of para 3A for pre-August 1997 retirees for payment of  40% IR has to necessarily involve pension revision on par with that  for post-Aug1997 retirees.

Kind regards
CH MAHADEVAN