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: 22-01-2025
Cir No 2/2025
The Chief Executive Officer & MD,
LIC of India, Central Office,
“Yogakshema”, MUMBAI.
Respected Sir,
Re: Pending pension related and other issues.
This is an addendum (point No 10) to our earlier letter dtd 19-1-2025. This important aspect had missed
our attention though we have already written to you about this issue vide our letters dtd. 3-9-2023 and
17-12-2023.
We have been demanding 100% DR neutralization to the retirees, who have retired prior to 01-08-1997.
After plethora of cases in various Courts, ultimately the case was decided by the Delhi HC in 2017 and
unfortunately the verdict gave a DR, which worked out to be less than 100% neutralization.
Similar issue was pending with the IBA and also in various Courts in respect of Bank pensioners, who
retired prior to 1-11-2002. At last, such Bank retirees got the full relief after the IBA signed the minutes
with the UFBU (United Forum of Bank Unions), wherein 100% DR neutralization was granted to such
retirees. This MOU was signed after bilateral discussions, despite the fact that this issue is pending in
various Courts. Hence, usual alibi that the matter is sub judice, was given a go by. This MOU already stands
implemented in Banks after the approval of DFS.
Hence, we appeal to you to take a magnanimous view and recommend to the DFS for grant of 100% DR
neutralization to the pre 8/97 retirees and oblige.
Since the number of such retirees is minuscule, the financial liability on the Corporation would be quite
negligible.
An immediate action in the matter would be highly appreciated.
With thanks and regards,
Yours Sincerely,
General Secretary
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