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