Resumption of LIC Wage Negotiations
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC BUILDING SECRETARIAT ROAD HYDERABAD 500 063
(E-mail: aiieahyd@gmail.com)
Cir. No. 27 / 2020
21st July, 2020
To
All the Zonal / Divisional / State / Regional Unis
Dear Comrades,
Joint Front letter to Chairman,
LIC to recommence wage negotiations
The Joint Front of major trade unions in LIC of India have written a letter to Chairman, LIC of India urging him to resume wage negotiations leading to a satisfactory wage hike to officers and employees at an early date.
We append hereunder the letter cited above which is self-explanatory.
This is for your information.
With greetings,
Comradely yours,
General Secretary.
FEDERATION OF LIC CLASS I OFFICERS’ ASSOCIATIONS
NATIONAL FEDERATION OF INSURANCE FIELD WORKERS OF INDIA
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
The Chairman
L.I.C. of India
Central Office
MUMBAI
Dear Sir,
Date: 21.07.2020
Re: Resumption of Wage Negotiations
We met you in a joint delegation on 13th of March 2020 just before our planned One Hour Walk-out Strike on 17th of March. You would please recall that we deferred our planned agitation in view of your assurances that discussions on Wage Revision would be convened in the month of April 2020.
Our meeting with you was preceded by a written assurance from the Executive Director (Personnel) that the efforts of the Corporation would be focused towards the welfare, satisfaction and expectations of the employees.
Also Read: LIC Employees-Wage Revision and Improvements in Pension Scheme
The stalled wage negotiations have not resumed till now, even though more than three and a half months have already passed since the month of April. We do appreciate that the onset of the COVID 19 pandemic threw a spanner in the works. But it is to be appreciated that even in the midst of the pandemic as well, LIC has thrown up yet another brilliant performance in the just concluded Financial Year. The fact that LIC could register positive growth on both the counts of Premium Income and Number of Policies under very trying situations is really something astounding. Were it not for the disruptions caused by the pandemic in the last fortnight of the Financial Year, LIC would certainly have recorded a spectacular performance. This creditable performance was possible because of the unwavering commitment of the workforce to our institution even in the face of serious challenges. We are confident that our institution will overcome the blips in our business procuration in the medium and long term as the pandemic itself will reinforce the need for life insurance among the people.
The wage revision is now due for three years now. This is a pretty long time to settle the genuine demands of the employees. Moreover, many of the issues not linked to the wage revision also remain unsettled. The Board recommendation for improvement in family pension and few other issues related to pension remain unimplemented. Our representation on treating leave of absence during lock down period and reduction in rate of interest of housing loan also remain unattended. This situation is creating restlessness in the industry.
Also Read: Pension Scheme 1995 for LIC Part-time Employees
We would, therefore, request you to resume the process of negotiations with improved offers with an aim to conclude the wage settlement at an early date so that we shall be able to give our undivided attention to other challenges confronting our institution and the industry. We also urge upon you to take immediate steps to implement the Board recommended improvements in the pension scheme.
Thanking You,
Yours faithfully
Sd/-
S. Rajkumar
General Secretary
Federation of LIC
Class I Officers’ Associations
Sd/-
Vivek Singh
Secretary General
NFIFWI
Sd/-
Shreekant Mishra
General Secretary
AIIEA
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