Tuesday, January 25, 2011

Pension Updation for LIC pensioners - Rajasthan High Court Judgement

The Rajasthan High Court has pulled up the Life Insurance Corporation of India for not implementing its Board resolution of 2001 for payment of equal pension to all retired employees across the country irrespective of the date of their superannuation. It directed the country's biggest public sector insurer to revise the pensions and dearness allowance corresponding to the revisions in pay scales.
The judgment, delivered by a Division Bench of the High Court, is set to bring major relief to thousands of employees who retired after putting in long years of service with the LIC and provided indemnity cover to the people at large.

The Bench, comprising Justice Dalip Singh and Justice Mahesh Bhagwati, rejected an appeal by the LIC against a Single Bench verdict of January 2010 directing the insurer to implement the Board's resolution passed on November 24, 2001, to meet the demand for parity in pension raised by the All India Retired Insurance Employees' Association.

The Court directed the LIC to revise the pension and dearness allowance paid to the retired personnel corresponding to the successive revisions in pay scales brought into effect in 1986, 1993, 1997, 2002 and 2007. As of now, the retirees are getting pension based on the last pay drawn by them on superannuation.

Source -HINDU 25th Jan.

Click here for news item in The Times of India


  1. Good to see Rajasthan High Court implementing this law! I also appreciate you for posting fresh updates. I have seen very few indian blogs doing this. I was very pleased to find this site.I wanted to thank you for this great read!!

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  2. It is overwhelmingly a healthy sign. Let it be any eye opener to all the "Powers-that-be" in the public sector Banking - viz. IBA, Finance ministry.. etc.
    Devulapalli Srinivasa Murti: Syndicate Bank SVRS-2000