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Wednesday, August 03, 2016

Comments


2 Aug 16, 02:45 PM

Anand Tyagi: I differ from the views as expressed by ASR that lic was not interested to formulate pension scheme. It's an absolutely a very incorrect statement, and he is not aware how lic persuade the issue before Shri Subedar MD played a crucial n major role to frame n implement the scheme. even young generation at that time in all classes were opposing n did not opt even.  But that is not the case now. Now each n every body wishes to get Up gradation in pension. Let the Almighty Divine Grace shower blessing for up gradation in pension.

Amended para 3a of pension rules‏

The first sentence states " in case of employees retired or died on or after the 1st day of August 1997............." The pensioners who retired before 1-8-1997 who are living have neither retired or died after 1-8-1997. When it is so the Supreme Court in its wisdom ordered payment of IR those retired before 1-8-1997 in terms of para 3a, only means that they should be treated on par with serving employees as on 1-8-1997 calculating DA. It only leads to the conclusion that the basic pension updated in a manner done to those who were in service on 1-8-1997. Hence the basis adopted by LIC for payment of IR is faulty if not mischievous. I hope this is noted by all the concerned in opposing LICs affidavit on IR payment.

T SAMPATH IYENGAR