Money is no problem, there're ever so many misc. accounts to draw money from !

GN SRIDHARAN WRITES

The contempt petition came up today before Jaipur HC and it is learnt that LIC again sought time and the matter is posted for final hearing on 22/1/2014. 

It is also informed that there is an imposition of cost of Rs. 30000 for LIC delaying reply and seeking adjournment. As of now no official confirmation is available, and we will await orders of the Court. However the final hearing is a matter of 6 days only, and we will wait for the outcome.                              

Re. Our further moves on court matters the consensus is in favour of our taking steps at SC level for speedy disposal of Pending appeals irrespective of the contempt action. We are therefore examining the options open to us. 

Majority view is also that if LIC seeks transfer of our Kerala WP to SC we need not resist it. We further understand LIC may seek to get all cases filed in different HCs transferred to the Apex Court, that is, such contemplated transfer is not limited to our WP in Kerala. Meantime at the initiative of our president we are contemplating to meet the Chairman in a bid to break the stalemate. All are therefore requested to bear with us for sometime, till we finalise our programme soon.

Regards, GN Sridharan

FINE IMPOSED ON LIC CHAIRMAN

TODAY PENALTY OF RS. 30000 HAS BEEN IMPOSED

ON THE CHAIRMAN FOR NOT FILING REPLY WITHIN

AND SEEKING FURTHER TIME. THIS WILL HAVE TO BE

PAID BY THE CHARMAN HIMSELF AND NOT LIC.

THE CASE WILL COME UP FOR FINAL HEARING ON

22ND JANUARY, 2014.

ASTHANA

JUSTICE R.S. CHAUHAN heard both sides - 20 minutes

 Posted for final hearing 22.01.2014.

 Regards,

 T.R.Madhava Rao

JAIPUR CONTEMPT CASE TODAY

AMUTHA SURABHIMM

S.P. SOOD

THANK YOU FOR REMINDING THE PENSIONERS ABOUT THE HISTORIC IMPORTANCE OF 12TH JANUARY, 2010 WHEN JUSTICE BHANDARI DELIVERED HIS JUDGEMENT AFTER ABOUT 12 LONG YEARS OF RELENTLESS FIGHT BY SH. ASTHANA. 

THE JUDGEMENT NEEDS TO BE READ AND REREAD SO THAT ALL THOSE WHO ARE SPLITTING HAIRS AT THE 'so called shrtcomings in this more than elaborate judgement' SHOULD ADOPT A PRAGMATIC APPROACH AND NOT BE GUIDED BY SOME PAID ADVOCATES OF LIC WHO ARE OUT TO CREATE CONFUSION AMONGST THE PENSIONERS.  THAT 12TH JANUARY, 2010 JUDGEMENT BECAME THE BASIS FOR JUDGEMENTS AT CHANDIGARH AND DELHI, UPHELD BY THE DIVISION BENCH JAIPUR, CAUSED DISMISSAL OF REVIEW PETITION AT JAIPUR H/C AND THEN BOTH THE SLPS WERE DISMISSED - THOUGH CONVERTED INTO CIVIL  WRITS AFTER CONDONING 847 DAYS DELAY, YET NO STAY GRANTED (UNFORTUNATELY MANEUVERING BY HIGH PROFILE ADVOCATES OF LIC WAS APPARENT ) OTHERWISE OUR CASE HAD BEEN DECIDED ON THE SAME DATE. 

SO LET US CELEBRATE 12TH JANUARY AS 5TH GRAND ANNIVERSARY OF OUR VICTORY WHEN THE FOUNDATION AND RAY OF HOPE FOR JUSTICE BECAME VISIBLE.....IT IS APPARENT THAT THE JUDGEMENT IS STILL OPERATIVE AFTER GOING THROUGH ALL THE TESTS AND SCRUTINY AT VARIOUS COURTS INCLUDING THE APEX COURT. AND THE FINALITY OF THE JUDGEMENT HAS NOWHERE BEEN PUT UNDER SCANNER BY ALL THESE COURTS  SO WHY SHOULD WE BE PESSIMISTIC AND LEAVE HOPE. 

ON THE GRAND FIFTH ANNIVERSARY OF SH. BHANDARI'S JUDGEMENT, LET US REJOICE (despite being dubbed as 'cheerleaders). 

HEARTIEST CONGRATULATIONS AIRIEF, SH. ASTHANA AND ALL THOSE WHO HAVE CONSTANTLY BEEN  GIVING MORAL AND FINANCIAL SUPPORT TO THE AIRIEF FOR THIS COMMON CAUSE AFTER WAITING FOR THE 16TH JANUARY DEVELOPMENTS IF STILL THE CASE IS TO BE PURSUED THE PENSIONERS SHOULD AGAIN GIVE A BEFITTING RESPONSE TO ANY CALL FOR LEGAL FUND FROM THE FEDERATION AS AND WHEN RECEIVED.  FROM CHANDIGARH WE HAVE SENT RS. 50,000 TO THE FEDERATION AND WILL SEND ANOTHER INSTALMENT ALSO.

Issue of Pension Updation in Reserve Bank of India

·       In RBI pension scheme was introduced w.e.f. 1.11.1990.

·       The Bank had notionally revised the pay of those who retired between 01.01.86 and 31.10.87 and then fixed their pension as per recommendations of 4^th Pay Commission at the time of introduction of pension scheme in 1990.

·       This pay revision was undertaken based on Regulation No.5 of RBI Pension Regulations, 1990 which is as under –

“In the matter of the application of these Regulations regard may be had to the corresponding provisions of the Civil Service Regulations or the Liberalized Pension Rules or the Civil Pensions (Commutation) Rules or the Family Pension Scheme for Central Government Employees, as the case may be, of the Government of India in so far as they can be adapted to the service in the Bank but subject to such exceptions and modifications as the Bank may from time to time, determine.” 

·       Thereafter Dr. Bimal Jalan, Governor RBI keeping in view recommendations of C.P.C. & Wage settlements of 1992 & 1997, 2^nd time updated pension of pre-November 1997 retirees in 2003 w.e.f. November 2002 after seeking opinions of senior legal experts.  However, in 2007-2008 Government of India advised that RBI has no powers to revise pension of its employees without seeking their approval for amending relevant regulations of Bank’s Pension Regulations. After continuous pressure of Government to withdraw the updation – the Bank withdrew the circular dt. 01.09.2003 granting updation of pension to pre-November 1997 retirees in October 2008, when Dr. Y. D. Reddy was Governor of RBI.

·       On 27.04.2009 a writ was filed in Mumbai High Court by three retirees as the withdrawal of updation done in October 2008 was unjustifiable.

·       The court after listening to the arguments made by the petitioners advised the Government to take decision by issuing Speaking Order.   The Government gave its decision in October 2009 to the effect that pension updation cannot be given in RBI because –

Ø The Management of RBI is not empowered to grant pension updation, hence it was necessary to withdraw the circular about pension updation.  However, it is true that there is inordinate delay in initiating this action.

Ø As Pension Regulations is the exercise of power conferred by RBI Act 1934 with the previous sanction of the Central Government, pension updation needs prior approval of Government of India.

Ø There is no provision in Pension Regulations for updation of pension.

Opinion of Law Ministry –

         RBI Pension Regulations 1990 are applicable to the employees of RBI hence their case cannot be compared with the pension paid to Government employees.  Since RBI Pension Regulations are according to RBI Act 1934 any change therein should be made only by legally following the procedure. Such change cannot be effected by issuing Administrative Order.

         Three retirees aggrieved by above observation of Speaking Order have again knocked the doors of court on 24.11.2009 and the court has stayed the implementation of Bank’s circular dt. 10.10.2008 withdrawing the updation already granted to pre-November 1997 retirees as per interim order dt. 27.04.2009. 

RBI has filed affidavit on 11.09.2012 raising two points –

1)    due process of hearing the petitioners has already been concluded &

2)   Bank has forwarded a proposal to Government seeking their approval to amend Pension Regulations to provide explicitly for updation of pension by the Bank and the proposal is lying with the Government.

The association filed a rejoinder to the Bank’s affidavit on 04.10.2012 refuting both the above points.  The case was last posted for hearing on 29.10.2012. Thereafter, no action has been taken either by the Government or by the Bank in the matter and case is lying with the Bombay High Court in suspended animation.  The case is not likely to come up for hearing in next few years and pre-November 1997 pensioners will continue to get updated pension as prayed for in the petition as per Bank’s circular of September 2003 due to stay granted by the Bombay High Court. 

The effect of all these happenings is that the Pensioners in RBI who have retired before November 1997 have been getting the benefit of increased pension w.e.f. November 2002 but the enhancement in pension due to wage increase in 2002 as per 8^th BPS and in 2007 as per 9^th BPS has not been given to them and the retires after 01.11.97 have been totally deprived of any increase in their pension.

Due to non-revision of pension of past pensioners those who retired in higher grades are drawing much less pension than those who retired in lower grades subsequently after wage revision of Pay Scales in November 2002 and in November 2007 and the disparity in pension amount of Class IV staff to ED is furnished here-below. 

LIC pensioners are not asking for the moon !

"A journey of a thousand  miles must begin with a single step" Chinese Proverb: Leo Tzu.

"By asking for the impossible, we obtain the best possible"-Italian proverb.

The above mentioned proverbs have been quoted  at the outset in the Central Pay Commissions (CPC ) reports.These proverbs speak volumes of the mood and mind of the Chairman and members of the CPCs and are very much reflected in their recommendations, immensely benefiting the employees, pensioners and family pensioners of central government. All the state governments , some municipal corporations, some local bodies etc have also ensured better life to million old and new pensioners and family pensioners by revision of pension periodically.

LIC pensioners are not asking for the moon. Their demands are justifiably reasonable. Their demands are not that 'impossible' as LIC has  the capacity to pay on its own , no need of any ones, GOI's or budgetary help, all they can't ask nor do they need ask in futurity. The banks and the financial institutions are also in similar position and reportedly have enough provision/fund for 100%- dearness relief , updation of pension outlay/expenditure. 

It is imperative to meet the minimum needs of the pensioners on ongoing basis. 

Let us hope for the best. May the wiser counsel help adjudge on 16th January, 2014 in favour of the demands of the pensioners remaining unrealised for the last fifteen years. 

SN (A 1992 PENSIONER)

JAIPUR JUDGMENT - 5TH ANNIVERSARY TODAY !

DEAR FRIENDS,

JUSTICE DELAYED IS JUSTICE DENIED. IT IS 101% TRUE IN CASE OF LIC PENSIONERS. IT IS ONLY DUE TO THE CALLOUS AND COWARDICE ATTITUDE OF LIC (may be due to pressure from FM, GOI).

THE HON'BLE SUPREME COURT HAD DISMISSED LICs SLPs ON 8.8.13 AND FURTHER  WHILE DISPOSING LIC's PETITIONS AGAINST THE FAVORABLE VERDICTS OF THE HIGH COURTS OF RAJASTHAN, JAIPUR; PB & HRY, CHANDIGARH;  AND DELHI HC, HAS PASSED THE FOLLOWING ORDERS ON 30.9.13, 19.8.13 AND 8.10.13  :-

“Delay condoned. 

Leave granted.

There shall be no stay of the directions given by the learned Single Judge vide order dated 12.1.2010 passed in S.B.C.W.P. No. 6676 of 1998 and connected matter.” 

( CONNECTED MATTER MEANS CWP NO.654/2007 relating to up-gradation of pension)

FRIENDS, IN MY OPINION WORTHY SUPREME COURT IN THE INTEREST  OF GIVING AN OPPORTUNITY  OF JUSTICE FOR ALL ALSO SAID "delay condoned, leave granted" and converted SLPs in ord. appeals, BUT DID NOT ACCEDE TO LIC's PLEA FOR STAY  of the  RAJASTHAN HC, JAIPUR  HISTORIC JUDGEMENT DATED 12.1.2010 BY HON'BLE MR. JUSTICE M.N. BHANDARI,  AND VERY CLEARLY & REPEATEDLY ORDERED "There shall be no stay of the directions given by the learned Single Judge vide order dated 12.1.2010 passed in S.B.C.W.P. No. 6676 of 1998 and connected matter.”

HON'BLE SC HAS USED THE WORD directions  and it is significant as  Justice Bhandari has dealt with all the issues both raised by the petitioners  (of DA anomaly and up-gradation of pension) and LIC  (Board resolution, Govt approval, Sec 21 etc. etc.) and given his directions and judgement on all issues and also said" both the writ petitions are allowed". We have to be grateful & thankful to Sh KML Asthana for his tireless professional way in which he has been successfully  fighting the legal battle for the last over 15 years. AIRIEF, its units & members  also deserve all praise & gratitude for their solid support.

I request all pensioners and  in service employees to go through the HISTORIC JUDGMENET BY HON'BLE MR. JUSTICE M.N. BHANDARI, OF RAJSTHAN HC, given on the right hand side bar under 'PAGES', word by word to enable you to appreciate its importance and also the reasons why worthy SC did not grant LIC its stay in their number of orders. 

DESPITE ALL THESE FACTS IT IS UNFORTUNATE THAT LIC IS  DEPRIVING OLD PENSIONERS THEIR RIGHTFUL & LEGAL RETIRAL BENEFITS AND UNNECESSARILY DRAGGING THE LITIGATION AT THE COST OF OUR+PUBLIC FUNDS, AND ARE FACING CONTEMPT PETITION IN JAIPUR. Lets pray and hope GOOD SENSE will prevail upon LIC management and they will earn goodwill and blessings of SENIORS who had laid solid foundations of the mighty Organisation. 

All are eagerly waiting for JUSTICE to be delivered on 16th January, 2014 at Jaipur. 

With kind regards to all,

H K Aggarwal

Mohali,Chandigarh.

(Please click and read the historic single bench judgment  placed as permanent page under 'PAGES' on the right hand bar of this blog. )  

PURPOSE IS MORE IMPORTANT THAN NEED...

(Ack. Sampath Iyengar)

Analytical Thinking - How to

Analyze Thoughts

Why Should I Analyze My
Thoughts:

Quality of thoughts determines the
level of peace of mind. Negative thoughts result in negative acts which in turn
causes distraction in emotions, unstable behavior, frequent mood swings, family
complications, lack of trustworthiness, financial mistakes, professional brawls
and so on. Healthy thoughts result in more positive outcomes, high happiness
index, better health and so on. So all in all your thoughts are defining your
present and your future.

There are several reasons for
negative thoughts including but not limited to your circumstances, your brought
up, financial situations, family conflicts, job and family complications. While
you may not be able to fix these reasons, it is highly recommended to analyze
your thoughts and mitigate the negative impact as much as possible. If you
remove the impurities from your thoughts you would be able to have a positive,
focused and prosperous mind.

How to Analyze My
Thoughts:

If you have seen a big aquarium, you
must have noticed that the fish keep wandering here and there continuously. From
right to left, bottom to up, here and there; all day long. They don't seem to be
getting any specific advantage while doing so. Same is the case with human mind.
When your head is on the pillow, your brain starts wandering here and there.
Several times it is processing the thoughts which shouldn't be the point of
concern at all. Though fish do not know this but you can control your wandering
of brain by picking up a specific thought/subject and ask these
questions:

a) Why am I thinking about this subject? Is this
subject related to others? Why am I thinking negative about someone? I should
mind my own business.
b) What exactly is the issue?
Is this something impacting (or going to impact) me or my family? Can I define
my issue/question in one sentence clearly so that I can focus on the solution?
c) How: can I resolve this issues? Is this doable? If not,
can I take advice from others?. If I have the solution then what are the steps
which needs to be taken?

How Can I Improve the
standard of my Thoughts:


a) Avoid thinking
about unnecessary things specially related to others. Mind your own business.
Posses a focused mind.
b) Stop comparing
yourself to others. It's an insult to yourself. You are a unique soul and you
are independent on your living, your decisions and your
destiny.
c) Don't think of
monetary gains too much. Excessive love for money and assets is the root of most
of stresses. Work on your real wealth.
d) Develop the
habit of forgiving and letting things go off. If you are keeping the grudge in
your brains for longer durations, you are killing yourself. Stress is a slow
poison which deepens its roots your brain and destroy your physical and mental
health.
e) Read quality
quotes or articles on positivity and try to absorb the message. This will kill
the germs of negativity.
f) Practice the
habit of gratitude. Stop complaining, criticizing and blaming. When a negative
thought comes in, convert it to positive by looking at the positive side of the
issue. 
g) Instead of thinking about your 'wants' too much, 
think about your needs. This will reduce the magnitude of your focus because
usually needs are limited but wants are too many. Adapt simple life style as it
reduces unnecessary socio-economical issues.


(The article is written by Junaid Tahir.)

Dear Sir,

         

Now another  adjournment! When will this drama end? None other than God knows. I read LIC Chairman's affidavit and convinced there is nothing new in it. It is the same old story r!told. To this Asthana has submitted counter affidavit.  LIC has been advised to give its reply on 13th Jan 2014 and the case is to be heard on 16th Jan 2014.  I am afraid,  here also the case will not end but will be dragged on like Sindubad's Kannitheevu  picture story appearing in Daily Thanthi Tamil News paper. Let the Hon'ble Judge take a firm decision on 16th in allowing the contempt petition and put an end to the drama. Rest in the hands of God.

A V Subbaraman Coimbatore Division.

ALL EYES WILL AGAIN BE TOWARDS JAIPUR HC VERDICT WHICH THE HON'BLE JUDGE MAY DELIVER ON 16TH JANUARY, 2014. SINCE THE COURSE OF LEGAL PROCEEDINGS ARE UNPREDICTABLE, IT IS TIME TO HAIL PENSIONERS UNITY AND CONTINUE SOLID & MORAL SUPPORT TO SH. ASTHANA AND AIRIEF.

LIC RETIRED OFFICERS ASSOCIATION, CHANDIGARH - AFFILIATED TO AIRIEF, IN CO-ORDINATION WITH TRICITY PENSIONERS FORUM CONSISTING OF ALL SECTIONS OF RETIRED EMPLOYEES BASED IN CHANDIGARH, MOHALI & PANCHKULA, AND PERSONAL EFFORTS OF THE OFFICE BEARERS/MEMBERS  OF CHANDIGARH UNIT, HAVE 

BESIDES ABOUT THREE LACS REMITTED EARLIER, 

AGAIN COLLECTED CONTRIBUTIONS TOWARDS THE LEGAL FUND FOR THE COMMON CAUSE OF THE LEGAL FIGHT BEING SUCCESSFULLY FOUGHT BY SH KML ASTHANA WITH THE SUPPORT OF AIRIEF,  

DEPOSITED AN APPRECIABLE SUM OF RS.50,000/- 

(RS.FIFTY THOUSAND ONLY) YESTERDAY. 

SMS MESSAGE DATED 6.1.2014 FROM SH S P SOOD  SENT TO SH VC JAIN, GS, AIRIEF READS AS UNDER:--

"SH JAIN, TODAY CHANDIGARH UNIT HAS REMITTED RS. FIFTY THOUSAND TO AIRIEF A/C THRU BANK TRANSFER, AS LEGAL FUND. PL ASSURE SH ASTHANA OF OUR FULL SUPPORT."

FRIENDS, THE RETIRED EMPLOYEES FROM TRICITY AND OTHER PLACES LIKE PATIALA, KARNAL, HIMCHAL PRADESH, JAMMU, FEROZEPUR, JALLANDHAR, AMRITSAR ETC., IRRESPECTIVE OF THEIR CLASS, CADRE OR AFFILIATION , OR ANY INHIBITIONS, HAVE  EXHIBITED UNITY IN THE REAL SENSE BY THEIR  SOLID FINANCIAL CONTRIBUTIONS.

IT IS APPROPRIATE TO QUOTE SWAMI VIVEKANAND AGAIN  "Sisters & Brothers.... ARISE, AWAKE and STOP NOT TILL GOAL IS ACHIEVED. They live who live for others, the rest are more dead than alive..."

WITH BEST WISHES & REGARDS,

H K Aggarwal

Mohali, Chandigarh.

Dear Sir

It is very strange LIC management is asking for further time again and again. Are they looking for the clearance from the Finance Minister or Prime Minister? This  will never come.  We are all aware that Central Govt. is sitting on most of the issues and technically UPA II regime is non functional   for last number of years.  LIC Pensioners case has also stuck there.  This needs to be understood by LIC Chairman.  He will realise only when he reaches at 70 i.e. 10 years after retirement losing two Pension Revisions by that time.

With frustration, 
sckapur46@gmail.com

(Shri Kapur's frustration could be well understood. But in court cases, delay of this nature is only natural. LIC is moving carefully and at every stage they may be discussing the matter with GOI. Though the theory is different, we should not be under 
any notion that LIC Chairman has any independent role. 

2.Jaipur Court will finally come out with its orders but there will be an appeal to the Supreme Court by the aggrieved party i.e. LIC or Shri Asthana. And the Supreme Court orders will have the last say in the matter as an independent observer may reasonably presume. So let us be mentally prepared to confront more delay in the matter. -Ed.)

JAIPUR HEARING POSTPONED...

Respondents' advocate requested 10 days time for replying to Shri.Asthana's affidavit.

Court has asked the advocate to file reply by 13.01.2014. Further hearing  - maybe 16.01.2014.

Regards,

T.R.Madhava Rao.

The honourable and learned sitting Judge/s of Rajasthan High Court and other courts including the Supreme Court know that all the retirees of pre and post 1996 judges, registrars etc. of the courts, including the Chief Justice of India of the Apex court get 100% - neutralisation - dearness relief from 01-01-1996 irrespective of their dates of retirement. They also get updation of pension with every revision of pay scales of serving employees based on certain fitment formula as per recommendations of CPC and on the lines/similar to GOI pensioners.

( In brief : to mention only about 2006 revision : the revised basic pension arrived at by merger of 100 % dearness allowance/relief and fitment weight-age of 40% increase on the existing basic pension.) The Pensioners Forums of various government departments are at it and are hopeful of getting stage to stage fitment - one rank one pension with the anticipated recommendations by the 7th CPC.

The intentions of the Respondents - LIC/GOI are clear. They have once again resorted to throw tantrum, the childish clamor to deny to delay the pensioners' just and reasonable demands of 100% dearness relief to pre August, 1997 pensioners and updation of pension along with revision of pay scales working employees.

The GOI has revised the pension and family pension of its pensioners and family pensioners retrospectively from 01-01-1996 and 01-01-2006 (to mention about the last two revisions) and not from a prospective date or from the date of Office Memorandum /The Presidential Order issued. Why should the LIC pensioners and family pensioners be obliged to be contented with 'the revision of pension etc.' from a prospective date, from the date of Notification in the GOI Gazette?

To mention a recent development, in short, about the pre 2006 GOI pensioners: After a legal battle of four/five years with GOI, the pre 2006 pensioners (-' all the eligible'- no space to mention details -) got a legal remedy by Delhi High court to get revised /enhanced pension based on the revised Concordance table. GOI issued a OM in January 2013 with a rider that the enhanced pension would take effect from 

23-09-2012 and no arrears of pension/family pension from 01-01-2006 will be paid.....

The subsequent SLPs of GOI were dismissed by courts, the Supreme Court dismissed the SLP stating that they are not inclined to interfere with the order passed by Delhi High Court. GOI is still on the 'run' trying to move courts etc.. But, the pensioners might should and would prevail. The role played by the CAT in this case is note worthy. The enhanced pension/family pension in short, is retrospectively from 01-01-2006.

Let all of us pray collectively that our sincere prayers be heard by the Almighty and by the learned Judge/s. LIC/GOI should be better advised to play a pro active role to implement the Rajsthan High Court's judgement without further loss of time. 

Let us continue to have faith in judiciary.

Let not there be a day that the Aam Janataa, common man /the general public entertain thought/s of- contempt/repulsion towards judiciary, towards courts.

SN (a 1992 pensioner),

06-01-2014

                

                                         

My point of view on the latest affidavit filed by the management in Rajasthan HC.

Pt 1 - LIC in their reply to Raj HC admits the burden (one time) on them for Rs 51 crores, however, they deposited merely 10% of it in Raj HC registry. Is it not contempt?

Pt 2 - LIC questions shri Asthana that why Shri KML Asthana has not asked for amendment in LIC's Pension Rules, but the management itself has not initiated action for the same, though they have accepted in their resolution (2001) stating, " there is urgent need......".

Pt 3 - GOI's Pension rules do not provide for the revision of pension for their pensioners; eventhough GOI gives justice by updating pension in all its CPC. Why LIC can’t do this.

Pt 4 - Hon Judges have passed a remark that there is no need for LIC to take permission from GOI in such case, but LIC repeatedly points out this point in their affidavits, Instead, LIC should have taken up this with GOI long back before chewing the same gum in the courts.

Pt 5 - Top level officers of LIC do express their sympathy and respect towards their pioneers who sit with one leg in one's grave. But in practice, they don’t do anything to give justice to pensioners whereas the fact is, each one of them WILL HAVE TO face the same fate in the future.

Pt 6 - Why management does not call for direct negotiations with pensioners associations who have placed their charter of demands? If round table talks become fruitful, then court cases will be reduced to the minimum.

            

MAY GOD GIVE THEM MORE SOBER HEARTS AND STRONGER MIND TO ACT!

P B Acharya (Retd Emp-Rajkot D O) 

Dear Editor

LIC's voluminous affidavit in response to the CCP in Jaipur HC is old wine in new bottle.  All those points which figured in the affidavit were already argued and thrashed out.  What are the new law points which need scrutiny by the Supreme court?  One could go on manufacturing this to prolong the case much to our annoyance. All that which started has to come to an end and let us hope that  on 7th January something positive will emerge in our favor.

R.K.Viswanathan

Mayur Shetty TNN 

Mumbai: Life Insurance Corporation of India has outdone its peers in the private sector in most parameters used for measuring consumer friendliness. The corporation had fewer lapses, higher claim settlement and no penalties from the regulator.

The claim settlement ratio of LIC was better than that of private life insurers. Its settlement ratio increased to 97.73% in FY13 from 97.42% in the previous year. And the percentage of rejections was only 1.12% compared to 1.30% earlier.

Private insurers reported a dip in settlement ratio to 88.65% from 89.34% in FY12. “Private insurers had repudiated more number of claims when compared to LIC. The percentage of repudiations (by private insurers) was 7.85%, almost unchanged from pervious years 7.82% in FY12,” the Insurance Regulatory and Development Authority said in its annual report for FY13 released on Wednesday.

In terms of persistency of business too, LIC scores better with a lapse ratio of only 5.6% as against private life companies which are all in double digits ranging from 17% to 42%. The only exception is HDFC Life Insurance, which has a lapse ratio of 5.6%. IRDA measures lapse ratio as the number of policies lapsed during the year divided by the average of the policies in force at the beginning and end of the year. 

The 13-month persistency (policies which are renewed after a year) is the highest for PNB Metlife at 71.22% on a much smaller business. LIC, Max Life Insurance and IDBI Federal Life Insurance have a 13-month persistency of 70%. For other private companies, the ratio ranges from a low of 36% to 69%. 

Private insurers scored slightly better was in terms of commission ratio. Private insurers paid out 5.7% of total premium as commission compared to 7.08% for LIC. However, LIC reach was much bigger and it sold more policies to the lower middle class with an average premium per policy of Rs 11,143. Compared to this, the private life insurers generated an average premium of Rs 24,457 per policy — more than double that of LIC.

While agents of private companies managed to sell only an average of three policies in FY13, the average agent of LIC sold 29 policies. In FY13, the insurance regulatory authority imposed penalties on 12 companies, including two public sector non-life insurers, for various reasons. The penalties ranged from Rs 5 lakh to Rs 1.4 crore. However, LIC did not face any penal action.

Interestingly, although only five private life insurers paid out dividend, the total payout by private life insurers to their shareholders amounted to nearly 80% of LIC’s dividend to the government. While LIC paid a dividend of Rs 1,436 crore to the government, private life companies paid out Rs 1,155 crore to their shareholders in FY13.

In the first quarter of FY14 life, insurers have written business of Rs 19,216 crore as against Rs 19,451 crore, recording a 1.2% shrinkage in business. While private insurers registered a 6.87% decline, the state-owned life insurer recorded a growth of 2.92%. LIC, with Rs 14,295 crore of premium from new policies, saw its new business market share rise from 74.29% to 74.39%.

(Times of India dt.2/1/2014)

( Reproduced above is a glowing testimony /acknowledgement/ affirmation of the role model / standard set/perpetuated by the past and the present LIC work force. But, it would not be wrong  if I am permitted to express views of pensioners :

• LIC Management - most unfriendly with the Pensioners in their seventies/eighties. 
• LIC Management and (or at the behest of) GOI : Heartless to all old guys, tragedy of having born early/having been early birds to build a mammoth organisation. Why care? Let the bygones (the old) be the bygones (perish). 

 - adds SN (a 1992 Pensioner).

'EASTERN NEWS'

A COMPREHENSIVE YET BRIEF ACCOUNT 
OF EVENTS WHICH EVERY PENSIONER
MUST READ....

Contact Shri Basudeb Das (Editor)

basudeb1711@gmail.com

for free subscription.

AMUTHA SURABHIMM

It is an irony of fate or bad luck of us all or under pressure from big bosses in FM/GOI that LIC management even knowing fully well that there is no stay by SC on Rajasthan HC, Jaipur Justice Bhandari's historic judgment dated 12.1.2010, they have chosen not to honour SC/HC orders, instead ARE unnecessarily again dragging the seniors (who had laid solid foundations of LIC making it a MIGHTY FINANCIAL INSTITUTION of the country & Asia) into the legal battle at the cost of our and public funds.


IT IS TO BE SEEN AS TO HOW HON'BLE JUDGE OF THE JAIPUR COURT TAKES THIS CONTEMPT OF COURT BY THE LIC MANAGEMENT. We have to keep our fingers crossed without losing patience or arriving at conclusions AND IT IS TIME TO EXHIBIT UNITY AND RENEWED VIGOROUS SUPPORT TO SH ASTHANA & AIRIEF whose 15 yrs long determined struggle with the financial help and moral support of all sections of the retired employees/existing also, had won the legal battle, but for the callous and stubborn attitude of the LIC/FM/GOI we are being tortured.


WE HAVE STILL FAITH IN THE JUDICIARY (though the system is very much polluted and has in built delays) AND HOPE & PRAY THAT FINALLY JUSTICE & TRUTH WILL PREVAIL.

WISH YOU ALL AGAIN A VERY HAPPY FRUITFUL & HEALTHY NEW YEAR.