Grant of Family Pension at the Uniform Rate of 30% for all eligible
LIC Employees-Providing family pension at a 30% uniform rate for all eligible persons
LIC Staff Pension Updation
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
President : Ashok Tiwari
General Secretary : T K Chakraborty
Date: 27th September 2019
Shri M R Kumar,
LIC of India,
We are happy to learn that LIC has recommended to the Government, grant of Family Pension at the Uniform Rate of 30% for all eligible
We are sure that it will go a longway, in mitigating the hardship of the Family Pensioners presently receiving a meagre amount.
As you are aware, Family Pension at double the rate, is payable for a period of seven years, from the date of death or upto the period, the employee/pensioner would have attained the age of 65, whichever is less. The age limit was prescribed, factoring in, the retirement age of central government employees (58 years) then prevalent.
After retirement age was fixed at 60years, in central government, the maximum age has been revised as 67years, for payment of family pension at double the rate, for them; however it continues to be 65 years in LIC even now. AIIPA in the discussions with LIC management, had sought increase in age to 67 years, as has been done in Central Government.
We do hope , LIC would have recommended , for this change also and would request you to ensure incorporation of this rule ,when Government notification for uniform rate of family pension @ 30% is issued.
AIIPA is confident that this new rule will be made applicable to all cases where Family Pensioners will be eligible for double the rate by virtue of the pensioners’ age being below 65 as on the Date of Notification.