LIC Employees Pension – Salient Features of Pension Amended Rules 2019
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ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC Building, Secretariat Road, Hyderabad- 500 063
15th May, 2019
All the Zonal General Secretaries &
Secretary, Standing Committee (GI),
Final Option to join 1995 Pension Scheme
We are glad to inform you that the Central Office, LIC has issued administrative instructions for implementation of LIC Employees’ Pension (Amendment) Rules 2019. We are informed that the GIPSA will also release the instructions shortly.
The protracted struggle of the employees for one final option to join the 1995 Pension Scheme finally has culminated through the issuance of the instructions.
We have already communicated to you the salient features of the Amended Rules 2019 through our circular no. 15 dated 23.4.2019. Please note that the last date for exercising the option is 22.7.19 for in-service employees and for other category employees it is 21.8.2019. The last date for remittance of one time lump sum amount is 21.10.2019.
We request you to advise all our employees to opt for Pension Scheme 1995 immediately without waiting for the last date.You may inform all the employees that this is the last opportunity to join the scheme. We also request you to advise the retired employees and the family members of the deceased employees to exercise their option at the earliest. Kindly coordinate with our Pensioners’ Associations in this regard.
Source : http://cziea.org/