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 General Secretary: Ashok J. Joshi
Mob No: 9880683639 Mob No: 9561084182 & 9945104570
Date: 25-08-2024
Cir No 24/2024
The Chief Executive Officer & MD,
LIC of India, Central Office,
“Yogakshema”, MUMBAI.
Respected Sir,
Re: Updation of pension and Unified Pension Scheme (UPS)
This is further to our various earlier letters and the latest being dtd 22-08-2024, in respect of
updation of pension and other pension related issues.
There is a more thrilling and revolutionary move by the Union govt that they announced yesterday
the cabinet decision approving the Unified Pension Scheme (UPS) to the 23-lakh central govt
employees/retirees, who are under NPS ever since 2004. Bharatiya Mazdoor Sangh, the Numero
Uno central trade union and the recognized union, had been demanding the Old Pension Scheme
(OPS) in lieu of NPS. The long-drawn efforts bore fruit yesterday when the govt announced UPS,
quite akin to OPS. If State govts replicate the UPS, 90 lakh govt employees would be benefited
when they shift from NPS to UPS by opting for the same.
In the banking sector also, a lot of developments are there regarding the updation of pension. For
the first time the IBA accepted in principle, the need to update the pension of bank pensioners and
consequently signed the bipartite agreement with the UFBU (United Front of Bank Unions) to
grant monthly ex gratia to their pensioners in addition to the pension, for the current wage revision
period, pending pension updation.
There is a favourable atmosphere regarding the updation of pension and mood of the govt appears
to be positive in this regard. As such, we once again implore upon you to recommend the updation
of pension for LIC pensioners to DFS, if not done so earlier. Bharatiya Mazdoor Sangh (BMS) is
very serious about this issue and is planning to meet the Finance Minister shortly to press for the
updation of pension for Bank and Insurance sector pensioners.
We fervently hope that you would do the needful in the matter,
With thanks and regards,
Yours Sincerely,
General Secretary
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