LIC Wage Revision 2020 Latest News
LIC Wage Revision 2020 Latest News AIIEA
AIIEA Wage Revision News
AIIEA DELEGATION MEETS LIC CHAIRMAN ON 16th January 2020 REGARDING LIC WAGE REVISION, PENSION AND ABSORPTION OF TEMPORARY EMPLOYEES
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC Building Secretariat Road Hyderabad 500 063
Cir.No.03/2020
16th January 2020
To
All the Zonal/Divisional/State/Regional Units
Dear Comrades,
AIIEA DELEGATION MEETS LIC CHAIRMAN
A delegation of AIIEA comprising of Corns Amanulla Khan, President, V.Ramesh, General Secretary, H.I.Bhatt and Shreekant Mishra, Joint Secretaries met Sri M.R.Kumar, Chairman, LIC at Central Office on 15th January, 2020 to discuss some important issues relating to the employees. Sri Mukesh Kumar Gupta, Managing Director, Smt Pratibha Kher, ED (P) and Smt Aruna Seth, Secretary (ER) was also present.
The AIIEA expressed happiness over the performance of LIC in the current financial year, specially the healthy growth in the number of policies. We also suggested bringing into market new products to improve our performance in the unit linked business.
The Chairman expressed confidence that the current financial year will end with a very impressive performance and the Corporation is indeed engaged with the IRDAI on the issue of introducing a unit linked product.
Wage Revision
The inordinate delay in recommencing talks on wage revision and taking it to finality is leading to a situation of industrial unrest. The AIIEA demanded early convening of negotiations and settlement of the wage issue. The Chairman and the MD informed of the efforts being taken at the government level to secure a mandate. The Chairman agreed that there has been considerable delay but pointed out that efforts of LIC at the government level on this issue are not lacking. He said LIC is in discussion with the government and he is hopeful of convening negotiations early. The AIIEA suggested that the wage revision demand has to be settled within a time frame. The 25th Conference of AIIEA to be held at Visakhapatnam from 27-30 January, 2020 will surely decide on steps to be taken in this direction.
Pension
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The LIC Board recommendation of increase in family pension is still awaiting a government notification. The Managing Director informed AIIEA that LIC has clarified all questions raised by the government on this issue and they are pursuing for an early notification.
On the issue of a final Pension Option for the RPT employees, the Managing Director informed that all details have been collected relating to this issue and the matter will be placed before the LIC Board soon.
The issue of giving a final pension option to ex-service men employees and those technically qualified employees recruited at higher ages has been taken up with the government with favorable recommendations.
Absorption of Temporary Employees
The AIIEA has been pursuing the issue of absorption of temporary employees who were recruited through employment exchanges and have been working continuously for over a decade. The AIIEA said that such long temporary employment by the premier financial institution raises questions beyond legality. The AIIEA pointed out to various court orders including the latest from Kerala High Court which suggest favorable action from LIC. Since the issue is at a final stage in the Supreme Court, we suggested that LIC can frame a scheme and approach the Court for the resolution of this long pending issue. Interestingly in developments just hours after, the Supreme Court too has also made similarly suggestion.
The AIIEA is very hopeful of finding a resolution to this long pending issue. The AIIEA also expressed its unhappiness over prolonging the legal battle on the CGIT issue and demanded the acceptance of the 2015 judgment of Supreme Court and the recommendations of CGIT, Delhi and bring the issue to a closure. On the issue of ex-servicemen refixation of salary, we pointed out the illegality and unjustness and demanded a review of the decision. The Managing Director said that LIC has taken up the issue with the government. Since the Group Med claim Scheme is coming up for renewal, AIIEA demanded a onetime option to the retired employees wanting to join the scheme and a similar option for inclusion of dependent parents and parents-in-law. The issue will have to be pursued further. The AIIEA also demanded consideration of the improvements in the pension scheme as also enhancing management contribution to 14% in case of Defined Contribution Pension Scheme. These demands require further persuasion. These apart a number of individual and zone specific issues were also discussed and they will be informed accordingly.
With greetings,
Comradely your,
sd/-
GENERAL SECRETARY.
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