Dear Mr Poulose,
The benefit available for Class I Officers retired after 1/4/1993
will be only the difference in salary from August 1992 to March 1993,
i.e., for 8 months.The consequential benefits will be only PF
deduction and interest thereon.
I do not think that there will be any re-fixation of pension as it
depends on the average of the last 10 months emoluments as on the
date of retirement.Any officer who retired after 1/4/1993 would
have been fitted in the appropriate scale of pay from 1/4/1993.The
problem may arise only for those who retired in April 1993 where
one month(July 1992) in the average computation falls before
1/8/1992.There,LIC will have to follow the principle of fixation of
pension as per the amendment to the Pension Rules made in 1999.
Same adjustment will also have to be made while re-fixing pension
for Class I retirees between 1/8/1992 and 31/3/1993.
Kind regards.
C H Mahadevan
an independent initiative...