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Drop New Pension Plan: LIC TU

The Sixth South Zonal Conference of the All India LIC Employees Federation (AILICEF) held here on Sunday demanded that the government should withdraw the new pension scheme and reintroduce the old benefit-defined scheme.

Published: 17th February 2014 08:04 AM  |   Last Updated: 17th February 2014 08:04 AM   |  A+A-

The Sixth South Zonal Conference of the All India LIC Employees Federation (AILICEF) held here on Sunday demanded that the government should withdraw the new pension scheme and reintroduce the old benefit-defined scheme.

It also demanded a better wage revision, commensurate with the organisation’s growth and expectation of the employees.

The management should start ‘meaningful’ talks on the issue and expedite the process of wage settlement. It wanted the wage arrears pending from July 7, 2012 to be paid immediately.

Among other important demands were filling of 5, 000 assistants’ vacancies and ‘exclusive recruitment’ of cashiers and payment of provident fund as a lump sum.

D Gopalakrishnan, general secretary, LICEU, Coimbatore, opposed the Insurance Regulatory and Development Authority of India (IRDA) creating a ‘level playing field’ for all insurance companies, including those in the private sector.

“The huge funds of the LIC is being utilised for the welfare of the people and invested for the development of the country,” he pointed out. So, the IRDA should not treat the LIC and the private players equally and create a ‘level playing field’ for all insurance companies, including those in private sectors.

The meeting demanded the Central government should withdraw proposal to raise FDI cap in insurance companies and plans to privatise the sector. It also passed resolutions against liberalisation, privatisation and globalisation policies.

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