WAGE REVISION IN LIC: NO PENSION REVISION

Negotiation between the Management and Staff Unions in LIC on pay revision is in progress. An Agreement is expected soon. One demand under active considerations is about Cash Medical Benefit should be raised to Rs 25000 per year to all employees.

But, Pension revision is not a topic in the talks.

The retirees are paid pension by LIC from its own fund. Unions have not demanded Pension Revision this time too.