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| Insurance employees hold massive demonstrations, demand wage revision | | |  EARLY TIMES REPORT
JAMMU, Dec 10: Massive demonstrations were held jointly today under the banner of Joint Front of LIC Class-1 Federation, National Federation of Insurance Field Workers of India and All India Insurance Employees’ Association during lunch recess in offices of LIC of India across Jammu & Kashmir
The demonstrations were jointly led by Vijay Khajuria- Secretary Class-1 Federation Srinagar Division, Rakesh Magotra- Secretary National Federation of Insurance Field Workers of India Srinagar Division and Com. Pawan Gupta- Secretary Northern Zone Insurance Employees’ Association Srinagar Division.
Speaking on the occasion at D.O Cell Jammu, the leaders said that wage revision of LIC employees has been due since 1 st August 2017; and in spite of lapse of more than three years, the Management is not serious in settling the genuine demand of the employees.
There is no genuine response either from the Management or from the Govt.
This inordinate delay has caused a lot of resentment among employees. In spite of the fact that productivity per employee has increased to a big extent and also servicing to customers has touched the sky, the aspect of wage revision of employees is not being taken care of.
The LIC employees are demanding a very genuine wage hike of 40% which they deserve seeing to the productivity and paying capacity of the industry.
It was also focused and pressed to scrap the New pension scheme and replace it with old pension scheme of 1995 as the new pension scheme is defined contribution scheme and does not tell how much pension the employee will get on retirement.
So the Defined Contribution Pension Scheme does not adhere to the social security of pensioners in old age. It was demanded that family pension be increased to 30% from 15% at the earliest. The issue has been recommended by LIC Board and stands pending with the Government for notification for more than one year, thereby causing a lot of harm to the family pensioners.
Updation of pension along with the wage revision was another demand of the joint front that was strongly stressed upon.
It was announced that two hour walkout strike preceding lunch recess will be observed by LIC employees all over India in support of the said demands on December 22.
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