LIC employees had protested for early settlement for their longstanding wage revision. The wage revision for LIC employees are pending since 01st Aug 2017.
LIC employees under the banner Joint Front of LIC Class-1 Federation, National Federation of Insurance Field Workers of India and All India Insurance Employees’ Association held massive demonstrations on 15th Dec during lunch recess in offices of LIC of India.
Wage revision of LIC employees has been due since August 1, 2017; and in spite of lapse of more than three years, the Management is not serious in settling the genuine demand of the employees.
It was in September 2020 that the offer of 15% hike in wages was rejected by the unions. The Management had also said that it will invite the unions for negotiations within a month; but in spite of lapse of nearly 2.5 months, there is no response either from the Management or from the Government.
The LIC employees are demanding a very genuine wage hike of 40% which they deserve seeing to the growth and paying capacity of the industry and also as per aspirations of the employees.
It was demanded to scrap the new pension scheme which does not provide the social security in old age. They also demanded that family pension be increased to 30% from 15% at the earliest.
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 walk-out strike during lunch recess will be observed by LIC employees all over India in support of these demands on December 22.
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