16.03.3024.

Dear Comrade,

We have come across a Press release issued by LIC of India on 15th March, 2024 communicating that the wage revision approved by the Government of India for LIC staff also ‘ includes a one-time ex-gratia payment to LIC Pensioners as a gesture of appreciation of their valuable contribution to the organisation ‘ and that ‘ this will benefit more than 30000 Pensioners and family pensioners.’

We are yet to receive the full details. We shall communicate our reactions to the LIC management appropriately only on knowing the details.

However, as of now, we want to make two things clear. Firstly, the number of beneficiary pensioners mentioned in the press release do not match the number of actual pensioners and family pensioners. We have to wait for clarification of this aspect from LIC. Secondly, what we have been demanding and fighting for is the updation of pension as prevalent in the case of Central Government Pensioners. Ex-gratia can in no way substitute the benefit of pension updation as it does not add anything to the Basic Pension. Moreover, it is an one-time payment. LIC has the financial capacity to meet the demand of pension updation.

AIIPA will continue to vigorously pursue the demand of pension updation both legally and organisationally.

Regards,

M.Kunhikrishnan,
General Secretary,
AIIPA,
Saroj Bhavan,
Muthalakkulam,
Calicut -673 004 (Kerala)
Mobile : 9447080017

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