ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC
BUILDING SECRETARIAT ROAD HYDERABAD 500 063
(E-mail: aiieahyd@gmail.com)
Cir.No.5 / 2016
22nd February 2016
To
All the
Zonal/Divisional/State/Regional Units
Dear Comrades,
AIIEA RAISES EMPLOYEES ISSUES WITH LIC
CHAIRMAN AGREES TO PURSUE PENSION OPTION
HOUSING LOAN AND OTHER ADVANCES WILL BE
SUBSTANTIALLY INCREASED
Com Amanulla Khan, President
and Com V.Ramesh, General Secretary visited the Central Office of LIC on 20th
February 2016 and held discussions with Shri S.K. Roy, Chairman, Smt. Usha
Sangwan, Managing Director, Shri Niraj Agarwal, E.D (Personnel), Shri Prakash
Chand, Chief (Personnel), Shri J. Sen, Secretary (ER) and other officials on
various issues of the employees.
The Chairman shared some concerns
on the growth of the new business, the turbulence in the stock markets and the
declining interest rates that might impact the working of the institution. While agreeing with his concerns, we pointed
out to the resilience of the institution that has stood the test of times and
also assured our fullest cooperation in meeting the challenges confronting the
LIC.
The AIIEA while appreciating the role played by the Chairman, Managing Director and the entire Personnel Department Team in the recently concluded wage revision requested for early solution to the residual issues.
PENSION OPTION AND IMPROVEMENTS
We requested that the issue of Pension
Option to be taken up with the government again. The arguments behind this demand are too well
known to reiterate. The Chairman agreed
that this issue is not closed and he will take up with the government at the
appropriate time and assured of his best efforts to resolve this issue.
The Chairman said that the issue of 100% DA to
pre-1997 retirees cannot be resolved till the issue is settled in the Supreme
Court. We suggested some improvements in the existing pension scheme and
introducing of a cash medical benefit for the pensioners to give some relief
from the increasing medical costs.
We requested for early
instructions to be issued for revision of pension, difference in commutation,
etc. to the employees who were on roll as on 1.8.2012 and retired
thereafter. The officials informed that
this requires formal approval of the Board and the issue will be taken up in
the next meeting of the Board.
The AIIEA requested for another
option to join the mediclaim scheme to the pensioners who are out of the
scheme. We pointed out that many
pensioners unable to bear the cost of the premium had opted out of the scheme
and now with the subsidy on premium extended to the pensioners, it is only fair
to give another option to such pensioners to join the scheme. We also suggested that the dependents parents
and parents-in-law not covered presently should be given an option to join. The LIC assured to consider extending these
options and will take it up with the insurer.
DIAMOND JUBILEE OF LIC
This year is the Diamond Jubilee
Year of LIC and it will complete 60 years of magnificent work in spreading
insurance and nation building on 1st
September 2016. We pointed out that LIC
today is the finest public sector institution in the country and all classes of
employees have contributed in building this great institution. In recognition of this great work, the
occasion should be commemorated with a reward to the employees
appropriately. On being asked as to what
is our expectation, we said it is fair enough to demand for a special
increment. The AIIEA also suggested
that the contribution of the pensioners and all retired employees should also
be remembered and recognized through a memento.
RECRUITMENT
We pointed out to the urgent
necessity of recruitment in view of the increasing volumes of business and
service expectations of the employees.
The Chairman agreed on the necessity of recruitment but pointed out to
the issues pending in various courts including the Supreme Court on this issue. We said some solution has to be found in the
interest of the institution. We were
also informed that the formula for staff strength is being finalized and the
same will be discussed with the AIIEA.
HOUSING LOAN AND OTHER ADVANCES
The LIC has agreed to enhance the
Housing Loan substantially taking into view the huge increase in cost of
purchase and construction. There will
be substantial increase in both the cadre loan and extended cadre loan to all
classes of employees. The benefit of
this increased housing loan will be extended to the existing loans also. We expect administrative instructions on this
issue in a fortnight’s time.
The management agreed to
increase Vehicle Advance and also to consider doing away with restriction on
number of times this advance can be availed.
Our demand for a Four Wheeler Loan is also agreed to be considered. The LIC has also agreed to substantially
increase the Festival Advance.
5 DAY WEEK, PLLI AND LEAVE
The officials informed us that
notification for 5 day week and improvement in PLLI is still pending with the
government and they are following it up for speedy notification. The notification increasing the accumulation
of PL to 270 days and introduction of Paternity Leave of 15 days on two
occasions in the service period is also pending with the government. The notification for Ex-gratia in lieu of
Bonus to the eligible employees is also with the government. The officials said they are continuously
following it up with the government for early issuance of these notifications.
UPGRADATION OF RPT EMPLOYEES AND FPA ISSUE
The officials informed us that
they are working for the upgradation of the RPT employees who could not be
upgraded in the earlier scheme. We
demanded this to be done early pointing out that this issue is pending for more
than two years. LIC also agreed to
restore the FPA to the eligible RPT employees who were denied this while
upgrading them into full time services of the corporation.
Apart from the above, a number of
individual cases and zone specific cases were also discussed and the same will
be informed to the concerned zones.
Comrades, AIIEA will continue to
take up the issues of employees. However, it is also the responsibility of the
employees to protect the public sector insurance industry. We are confident
that the employees while continue to campaign in this activity shall also
extend full cooperation in closing this financial year successfully.
With greetings,
Comradely yours,
General Secretary.