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Saturday, September 06, 2014

CALCULATION OF DR SLABs

Dear Mr Gopalan Subramanian,
I give the following example for calculation of DR slabs

Average CPI for Oct 2013 to Dec 2013=(241+243+239)/3=241-->241x4.63x4.93=5501.042( for 1/2/2014)
Average CPI for April 2014 to June 2014  =(242+244+246)/3=244--->244x4.63x4.93 =5569.52( for  1/8/2014)

We have to take the first figure as a multiple of four viz 5500 and the second figure as 5568.
The half yearly  difference is  5568-5500=68 
Dividing 68 by 4 we get 17 which were the no  of slabs released from 1/8/2014.

LIC's action on MC Jain's case is not known,but they will have to comply with the Jaipur judgment sooner or later.Once they do it similarly placed pensioners can also claim the benefits as per the judgment.

Mr Krishnan and all those who retired after 1/4/1993 are entitled to the difference in salary  from August 1992 to March 1993 including PF benefits as these retirees  were  similarly placed as Mr M C Jain while in service on 1/8/1992.But all such pensioners will have to demand the benefits from LIC  and obtain them if necessary through legal action.In fact both in-service   Class I Federation and retirees' Class I Federations will have to take it up with the management.

All 31 petitioners in Chandigarh case are pre-Aug 1997 retirees.
LIC has not given 11.25% weightage;nor have they removed the DR anomaly prior to Aug 1997 arising out of differential DR formula for in-service and retired employees prior to 1/8/1997.

I agree with you  on  what you have stated  in the last para. of your mail. All the Retired Employees' Federation/Associations have got  a  legitimate  and  legal right to demand  being called for negotiations  before wage revisions are finalised considering that three HC judgments are binding on them to  pay upgraded pensions  as Supreme Court has refused to stay the HC Orders. In my view all the  retirees Federations/Associations can even apply to the courts to stay the finalisation of the wage revisions until the Civil Appeals in the Supreme Court are disposed of unless they adopt the same process for pension revision  for retirees  as well.

Kind regards.
C H Mahadevan