RB KISHORE
Executive Director (Retd.)
Vice President, All India Retired Insurance Employees Federation
Pros and cons of
DR ONLY School Vs twin issue Pension Upgradation
with in-built FULL DR School.
DR ONLY School Vs twin issue Pension Upgradation
with in-built FULL DR School.
(i) Pension upgradation embraces all groups of pensioners, pre-8/97, post-8/97 and all subsequent Groups 1/8/2002, 1/8/2007 and after 1/8/2012 wage charter is finalized that group too. It is therefore a holistic and comprehensive solution to reasonably reduce the gross anomalies witnessed today when Cadres 7/8 steps below get more pension than earlier higher/highest cadres.
Full DR benefits ONLY Pre-/8/97 pensioners and totally ignores all groups of post-8/97 pensioners. This is the most unkindest cut of all. App 14,500 pensioners of pre-8/97 alone can benefit leaving out the large growing post-8/97 which is app 26,500 till 31/7/2007 and another 7500 pensioners till 31/7/2012.
(ii) Benefits flowing from pension up gradation are substantial, redresses anomalies to the largest extent. With 4, 3, 2, 1 revisions depending on date of retirement in tune with 5 year wage revision, it offers the most ideal solution pensioners richly deserve after waiting for 12/13 years.
Actually DR solution alone offers only 30% to 60% benefit from Sub-staff to ED
Pensioners community must weigh their options and action and
also aid progress when visible benefits are there. In fact, all of us have
consistently sustained large losses in pension and pre 8/97 added DR loss.
(iii) When wage revisions proceed, post-8/97 will feel a terrible pinch as they start experiencing same emergence of terrific anomalies. As a body of pensioners, it is our bounden duty to preserve, protect and promote every pensioner welfare.
DR solution, therefore,
is partial, truncated, piece-meal, not at all wholesome.
Please click on 'read more' below.
(iv) DR school wants DR only as many pensioners have died or dying. Enough period or years were there from 2000 and had it been pursued with vigour, fup and determination, court cases could have come to fruition and pensioners would have been gladder. That could not happen, noticing feverish pitch now and intensity of reasonably responsive activity and fup in Courts, this desire has swelled matters sub-judice, no institution touches and they merrily wait for final outcome. Further, no organization will grant ad hoc relief on pension up gradation without full solution emerging on that subject.
(iv) DR school wants DR only as many pensioners have died or dying. Enough period or years were there from 2000 and had it been pursued with vigour, fup and determination, court cases could have come to fruition and pensioners would have been gladder. That could not happen, noticing feverish pitch now and intensity of reasonably responsive activity and fup in Courts, this desire has swelled matters sub-judice, no institution touches and they merrily wait for final outcome. Further, no organization will grant ad hoc relief on pension up gradation without full solution emerging on that subject.
Experience has told and reinforced pathetically that all 11/12 years, neither LIC nor MOF/UOI listened to us at all. Govt. treats Financial & Service sector with contempt and disdain. RBI Governor is able to exert some continued pressure but LIC’s top management are not able to drive home the issues with ease, force and felicity, though LIC is the milch-cow, undeclared Navarathna and economic Tajmahal.
Pension upgradation is the real saviour for pensioners, we will have some grace and aura of respectability in society.
It is also to be remembered that depending on effective date, after death of pensioner, widow will get benefit of RP revision from that date till date of death in full and thereafter Revised FP.
(v) Many do not understand that Family Pensioners also derive good benefit out of pension upgradation. This is the weakest link in our chain. Our Pension is the lowest ever quantum - a pittance. Family pensioners have swelled to 12,272 as at 31/7/2007 almost 35% of RP. PLUS when we later fight jointly with MOF/UOI and get what RBI already got recently, that will be yet another quantum rise. It is a Double-Decker benefit.
(TO BE CONTINUED)