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Wednesday, June 17, 2015

The plight of pre-97 retirees in LIC

  
Can/should we not do something now?

I came across an E-mail dated 17th June 2015 (this morning) sent by Sri Narayenen NAN to Sri KML Asthana and the latter’s immediate reply putting things in proper perspective. Good to also note that Sri Narayenen appeared convinced about the factual and logical clarification provided to him by Sri KMLA.

Mr Narayenen’s point and his reasoning (that it is not correct for anybody to stand in the way of the long overdue relief coming to pre-97 retirees) is so appealing and perhaps very timely. His plea is not new but unfortunately the idea did not catch up with many, as it could have, despite best efforts by GNS, all through. There are reasons to justify but those are not relevant now.

It looks almost certain now that LIC would approach the Supreme Court on one point or the other, because payment to Delhi Petitioners is impossible without clear guidance of SC. Ultimately LIC has no escape from paying to ALL pre-97 retirees as a minimum compliance of the SC interim Order even as per its own admitted liability. But it may be preparing for a license from SC to play cruel by limiting even that to 20% only of what it deposited in Jaipur & Chandigarh which is meant for pre-97 petitioners, as their ‘admitted’ dues. If such an approach by LIC happens (hope it does not), one has to feel sad to have ever worked for such an Organization.

What I am trying to propound and propose is that interim relief, which is set by the Supreme Court at 20%, has to be to ALL Pensioners on payment arising from pension up-gradation also. We continue to work for it in every possible way. It takes care of both pre-97 and post 97 retirees. On the other hand if the interim relief finally gets limited to the DR anomaly rectification of pre-97 retirees only, why pay 20% of what is deposited? Release it fully being the liability admitted by LIC’s own reckoning.

The suggestion now is that the Respondents in all the three CAs should jointly expose the unfair game plan of LIC (abusing the 20% directive) before the Supreme Court and make a common prayer to Supreme Court to direct LIC to pay full money deposited to those whom it was meant for WITHOUT PREJUDICE TO OUR DEMAND for 20% of the total dues to others including on account of up-gradation. If we succeed in this plan, all pre-97 retirees are not deprived of what LIC was always willing to pay them and even Government should not come in the way. In fact, such a stance in the Supreme Court, if we take very carefully, may give us an edge before the Bench on proper interpretation of the SC Order dated 7th May.

I have no doubt that GNS would support this approach fully and I equally hope that Sri KMLA should have no reservation against it. Chandigarh hopefully would fall in line.
   
M Sreenivasa Murty