The Director( Finance ) had a brief (heart to heart) talk with the Chairman, LIC to know some details / position of pending cases in Courts regarding updation of pension and removal of DA/DR anomaly to pre August, 1997 Pensioners. The Chairman might have confided GOI and LIC stand with the Director to convey to the Finance Secretary. What exactly transpired then and happened thereafter is everybody's guess. No wrong if everyone is hopeful of hearing something good. But, how long live on hopes.... till bid good bye to family and friends / till a day after which there is no need to be reminded to furnish *existence certificate to office.
Our Chairman, as stated above, had a talk with a very senior officer of Ministry of Finance few days back. (Third week of August ). The Editor has posted the Chairman's Speech for Information Sharing Session with Unions. It is heartening to know a good deal about LIC, our new generations impressive achievements in the competitive market, awards galore, challenges awaiting etc.etc. But, it is not heartening to know that he has offered to staff a mere 10.50% hike ? IBA has offered 11.00%. (Banks Unions may agree anything between 15% and 20%). Why the insurance industry (LIC) need (always) be subservient to banking industry (Banks)? The latter have made inroads into insurance sector ... Our Chairman can rise to the occasion and offer more hike.
Another disappointing omission (not a right word (?) as his address was to the Unions) is that there was not a word about pensioners. Better he had touched on the issues that he had interacted with MOF a week back regarding updation of pension, 100% DR to pre 1997 pensioners. A passing remark in his speech on these issues and uniform family pension on the lines of family pensioners of GOI and increase in amount of ex gratia, all the burning issues of the old and very old pensioners/retirees would have made a big difference, a feeling that the Chairman too cares.
SN ( a 1992 pensioner)
*Existence certificate. [ It is life certificate in GOI, RBI etc. It is existence certificate in LIC. Rightly defined to connote that Pensioners - LIC Pensioners (some and not all because of the Indian Family Culture) EXISTING ( hand to mouth- I admit some hyperbole in the statement ) and NOT LIVING until the final exit. ]