 Early Times Report
Jammu, Nov 26: Employees of Life Insurance Corporation (LIC) today staged protest demonstration in favour of their demands.
Under the banner of Northern Zone Insurance Employees' Association held massive demonstrations during lunch hour outside their respective offices to demand one final option for old pension scheme and also to show solidarity with the State and Central Govt. employees who are on protest today at Delhi against the National Pension Scheme demanding coverage of all employees under old Defined Benefit Pension Scheme.
Speaking outside LIC office at Rail Head Complex at Jammu, Com. Pawan Gupta Divisional Secretary NZIEA Srinagar Division said that the insurance employees have been on agitation for nearly a decade now demanding a final pension option and improvement in the pension scheme.
The Pension was introduced in LIC in lieu of management's contribution to PF in the year 1995. Today nearly 87000 existing employees and 53000 pensioners and family pensioners are covered under this scheme in LIC. The Pension Fund has a corpus of around Rs.53904 crore as at 31st March 2018 and additional pension one time net liability of the option is around 2390 crore and increase in growth of premium will absorb the cost. A second option to join the scheme was given in 1997; still some employees did not opt as there was no significant change in the interest rate regime. But a significant improvement in the form of full neutralisation of DA came in the wage revision concluded in the year 2000 effective from 1.8.1997 making 1995 Pension Scheme much more attractive.
Thereafter a few more improvements like eligibility for pension to the widow/divorcee daughters and dependent parents came about. With these improvements it was natural for employees to expect another option and so the struggle is continuing. Others who spoke Com. Romesh Chand-Joint Secretary, Com. Raj Kumar Sharma, Dinesh Sharma, Rajesh Kumar, Neelam Sharma-Convener Women committee, Rekha Rani, Alkiya Sharma, Ruchi Jamwal, Priya Sharma, Nanak Chand, Kishore Lal.
Demonstration was led by Com. A.M. Tantray, Com.Muzzafer Hussain, Com. Javed Ahmad Bukhari, Com. Ajaz, Com. Fyaz Ahmad Gul, Com. S.D.PEER, Com.Gulshan Singh in valley region and Com. Rajesh Gupta at Jammu-1, Com.Karan Kumar at Jammu-2,Vijay Kumar at Kathua, Kuldeep Singh at Samba, Raj Kumar Sharma and Rajinder Kumar at R.S.Pura,Neeraj Khajuria at Udhmpur, Neeraj Sharma at Rajouri, Ram Raj at Doda, Raj Kumar at Poonch. |
