Pension Instructions – LIC Part-time Employees and Ex-servicemen Option to Join the Scheme
Pension Option to RPTs and Ex-servicemen
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC Building, Secretariat Road, Hyderabad- 500 063
President: Amanulla Khan
General Secretary: V.Ramesh
LIC of India, Central Office, Mumbai.
Pension Instructions for Part-time Employees Option to Join the Scheme
The Central Office issued instructions for implementation of LIC Employees’ Pension (Amendment) Rules 2019 vide circular no. CO/PER-ER-A/222/2019 dated 15.05.2019 consequent to the Gazette notification dated 23.4.2019. However, these instructions are applicable to the Full- time employees who are either in- service/retired/the families of the deceased employees as on 28.6.1995. These instructions do not cover the Regular Part-time Employees.
LIC issued instructions in November, 1999 vide circular no. ZD/942/ASP/99 dated 3.11.1999 extending the benefit of Pension option to RPT employees. Many of the RPT employees opted for Pension except very few for reasons of their own. During the years 2013 December and 2017 October, almost all the RPT employees were converted to full-time employees though some RPT employees do exist even as on date.
We understand that when these part-time employees including those who were converted to full-time, applied for pension option, as per the amended rules, Annexure- I was accepted by our offices but subsequently the quotation for lump sum payment was not issued to them. We are informed that as per the instructions of the Central Office, the applications of these employees were rejected quoting the reason that the amended rules do not apply to them since they were not full-time employees as on 28.6.95.
It has been the normal and regular practice of the Corporation that the benefits granted to the Full-time employees were subsequently made available to RPT employees also through separate instructions. The instructions released in November 1999 for RPT employees granting pension option is itself an indicator. However, the Corporation is yet to release instructions extending the benefit of pension option to the existing RPT employees including the converted full-time employees.
We, therefore, request you to issue necessary instructions at the earliest granting the benefit of Pension option to the RPT employees including those who are converted to full-time. You will appreciate that the number of such left-out employees is very small. We also reiterate our earlier request of taking up with the government the issue of Pension option to Ex-servicemen employees and a few other employees who joined LIC at a higher age. An early action on these issues will bring to a successful close the issue of Pension.