* 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, June 27, 2016

CH Mahadevan


REVELATIONS  FROM  CALCULATIONS OF  40% IR FOR  
PRE-AUGUST 1997 RETIREES



Since my offer through the pensioners’ blogs inviting request for calculation of actual dues of 40% IR as per Supreme Court Order, I received more than 40 requests till date.Taking into account calculations made by me for pensioner friends prior to that I tried to understand whit the calculations revealed in regard to payment of the 40% IR by LIC for pre August 1997 retirees from the calculations made for a total number of 97 pensioners:



I have received a request from a retired Section Head and I have sought some details in view of some apparent mismatch between Basic Pension and IR.

1. Generally higher the cadre, higher the IR.The only exception seems to be between ADM & AO who got minimum IR because of proportionate pension on qualifying service of less than 33 years.

2. Higher the amount of IR, higher the percentage to the amount due as per the Supreme Court Order.

3. M C Jain category retired officers mostly ADMs got the same IR of Rs 39088 as ADMs who retired prior to 1/8/1992,This indicates the non-implementation of the MC Jain case Jaipur judgment by LIC has affected this category of pensionewrs adversely.

4. The minimum percentages were mostly in respect of employees retired before 1/8/1992 and the M C Jain category retired officers. This indicates that non -application of para 3A has adversely affected the pre August 1992 retirees more than post July 1992 retirees(among pre-August 1997 retirees) who themselves have been adversely affected by financial losses ranging from 68% to 78% on account of under payment of interim relief.

5. Class III retirees and Development Officers have been hit harder in terms of percentages by non-application of para 3A.In case of Development Officers , the percentages have worked out to much less than other cadres probably because of the difference in wage revision structure.

6. Besides the above family pensioners either got no IR or single digit amounts not worth being called ‘interim relief’.

Greetings


C H Mahadevan