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TEN REASONS TO JOIN “NOIP”

1. National Organisation of Insurance Pensioners is the only pensioners' organisation registered under the Indian Trade Union Act, 1926....

Friday, November 10, 2023

NOIP Circular No 34

NATIONAL ORGANISATION OF INSURANCE PENSIONERS

Regn No.PN 4769 (Regd under Indian T U Act, 1926)

(Affiliated to Bharateeya Mazdoor Sangh)

BMS Office, Vishwakarma Bhavan, 185, Shaniwar Peth, Pune 411030. 

 President: T.C. Gunesh Kumar Working President: Vilas V. Purkar General Secretary: Ashok J. Joshi

 Mob No: 9880683639 Mob No: 9922166599 Mob No: 9561084182 & 9945104570 

Date: 10-11-2023

Shri. Sat Pal Bhanoo ji,

Managing Director,

L I C of India, Central Office,

Yogakshema, MUMBAI

Dear Sir,

Re: OMOP (One more pension option) to those, whose VRS was treated as resignation

You may please recall our meeting with you on 02-11-2023. We thank you profusely for having listened 

with patience, all our submissions regarding the pending issues of pensioners. 

One of the long pending issues was also discussed- regarding granting of one more pension option to 

those who took VRS, but due to the outdated, inequitable rule 19 of (Staff) Rules, 1960, their VRS was 

treated technically, as resignation and they were not offered OMOP in 2019. Most of these retirees have 

even put in more than 30 years of service at the time of retirement on resignation. It is paradoxical to 

note that employees’ pension rules provide pension for a minimum service of 20 years, whereas these 

hapless, less fortunate resignees, who have put in more than 20 years of service, have been denied the 

OMOP. Majority of them are ladies who took VRS due to family commitments or health issues. They 

have not gone to green pasture.

In the wage negotiations held by IBA on 9-11-2023, Minutes were signed between IBA and UFBU, 

agreeing to offer OMOP to their resigned employees.

As such, we once again implore upon you to offer OMOP to these retirees who had resigned for family 

needs and on health issues. Their number is very less and would not entail much burden financially, on 

the Corporation. 

Hoping for a positive response,

With thanks and regards,

Yours Sincerely, 

 General Secretary

 

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