LIC PENSIONERS CHRONICLE

Comments by SN

Apropos Shri P.G.Vijairengam, AAO (Retired) query regarding the date of retirement if an employee was born on the first day of a month...I do not know the Jaipur court's decision / verdict on the date of retirement if an employee's date of birth happens to be the First of a month. LIC (Employees) Pension Rules, 1995 , RBI Pension Regulations,1990 and Bank (Employees) Pension Regulations, 1995 have been framed on the lines of GOI Pension Rules.... As per LIC Pension Rules, the date of retirement is defined/ means : the last day of the month in which an employee attaining the age of superannuation or the date on which he is retired by the Corporation or the date on which the employee voluntarily retires. The definition of date of retirement in RBI and...Bank Pension Regulations is no different, are on the similar lines. INDEED GREAT PRINCIPLES...! Born 1st: To go to last day of previous month; Born 2nd to 31st: To go to last day of birth month to retire!

GOI's instructions on the subject - date of retirement are very specific and clear. The instructions are as under:

" Except as otherwise provided in this rule, every Government servant shall retire from the service on the afternoon of the last day of the month in which he attains the age of sixty years, provided that a Government servant whose date of birth is the first of a month shall retire from service on the afternoon of the last day of the preceding month in which he attains the age of sixty years."( Extracted from GOI, Ministry of Personnel, Public Grievances and Pensions -- OFFICE MEMORANDUM No. 25012/8/98 dated the 30th May,1998 issued when the age of retirement of Central Government employees was increased from 58 years to 60 years.)

Reserve Bank developments: 

As reported in the LIC Pensioners Chronicle, the pensioners and family pensioners of RBI are likely to get updation of pension and family pension in couple of months or latest by the end of December, 2014. All the pensioners of RBI irrespective of date of their retirement are getting 100% neutralisation in dearness allowance/ relief. When will the Hon. Courts, the GOI and LIC decide about the ' fate ' of pension of LIC Pensioners? Are the LIC pensioners not citizens of India? not governed by the same Constitution of India? Why treat the LIC pensioners badly, differently? 

With good wishes for happy, healthy, peaceful and more prosperous retired life to all pensioners. 

SN (a 1992 pensioner)

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