CH Mahadevan

Dear sir,

It is a matter of small comfort that at long last LIC have
announced an increase in ex-gratia for old retirees from
Rs.300/ to Rs.350/- p m plus D A. w.e.f. 1/7/2014!

• Considering that there has been an average rate of inflation at the rate of 7.35 % per annum from 1995 to 2014, the ex gratia pension should have been revised to Rs 1240/- at the minimum. What has been provided is a very inadequate relief, considering that even in the social security schemes of the Government there is generally a stipulation of a much higher minimum amount of pension for the weaker sections. 

For a group of very old LIC pensioners who have rendered great service to the community through their service in the LIC during the three decades of nationalization of LIC, there needs to be a much more humane gesture by increasing the ex gratia pension to at least Rs 1500/-p.m. and Rs. 750/- for spouses of deceased pre 1986 pensioners considering that all of them are now aged more than 88 years by and large struggling with all the attendant old age physical inabilities/disabilities. 
This group of retirees who are a diminishing lot and who will be virtually non-existent after another 12 years or so definitely deserve a more empathetic treatment from LIC. 

My humble suggestion is that all the pre 1986 retirees and spouses of deceased pre 1986 retirees should be made free life members of the various Pensioners’ Associations subject to their being eligible for membership of the respective Associations. Their case for equitable increase in ex-gratia pension should be pursued vigorously with LIC Management and the Central Government by the Associations. They need to be given whatever help is required, by the Associations’ activists visiting their residences as ex gratia pensioners.

With greetings,

C H Mahadevan