Sunday, May 23, 2010

HC directs LIC to revise pension

Jaipur, May 20 (PTI) Rajasthan High Court today directed the Life Insurance Corporation (LIC) of India to implement a decision by its board to revise the pension and DA payable to its retired employees in accordance with successive revisons of the payscales of its in-service staff since 1986. A single judge bench of Justice Munishwar Nath Bhandari of the high court asked the LIC to take immediate steps for implementation of a 2001 resolution of its board by which it had decided to revise the pension and DA of its retired employees corresponding to the revisions of the payscales of its in-service staff hat took place in 1986, 1993, 1997 and 2002.
The court''s order came on the petition of Krishan Murari Lal Asthan, the General Secretary of the Retired Employees Federation Association of LIC. Arguing before the court, counsel for the petitioner contended that LIC had indulged in discrimination in revision of payscales as the pay slab of the in-service candidates were revised in year 1986, 1993, 1997 and 2002 but the basic pay on the basis of which pension is computed were never revised. Upholding the contention Justice Bhandari observed, "If the facts of this case are looked into, then it becomes clear that amongst the pensioners there exists dicrimination more specifically when the pension has been made admissible to the employees who retired on or after January 1, 1986.
" Holding that implementation of the board''s resolution would take away dicriminatory treatment among the pensioners apart from keeping the LIC away from administrative inconvenience, Justice Bhandari in his order said, "I am of the view that the corporation may give effect to its resolution." PTI Cor.
Source - Yahoo finance News


  1. I think bank pensioner will have to follow the way as that of LIC pensioners,as Union leaders are not at all interested in revision of pension in near future

  2. It is really a Very Good Judgement by the Hon. Court to protect the interest of the pensioners. This is remarkable as no working employees would like to protect the interest of the pensioners.

  3. I believe that both the association of employees and pensioners should jointly move to ascertain that lici can implement the order of the hon. high court in the institution without the interference of govt. of india. associations of the working employees has the strength to force management to accept the verdict and distribute the benefit/relief at this stage when people are reeling for high rise of price of essential commodities, specially of medecines.
    dipak kumar ghosh from kolkata

  4. THREE BIPARTITE AGREEMENTS were signed after the introduction of a pension scheme for bank employees. All the 3 agreements concentrated only on the serving staff. The pensioners are left deserted by ALL. Atleast from now on all the bank pensioners should unite and press the UFBU for pension upgradation.