Joint front - letter to officers / employees

Camp Mumbai
Date: 20th March 2010

To all the employees and Officers of LIC

Dear Friends,

Wage Revision

The Chairman of LIC held discussions with the unions/associations during 19th and 20th March 2010 and informed about the efforts being made to ensure a satisfactory wage revision to the employees and Officers. During these discussions he also appealed to the unions for withdrawal of the agitational programme.

The Managing Director too held discussions with the unions and they also explained the efforts in the direction towards a satisfactory wage settlement. An appeal was also made by the Managing Director to the Unions / Associations to reconsider their ongoing agitation. Subsequently, the Managing Director also wrote a letter of date requesting for review of the agitational programme of employees in view of the efforts being made by LIC for a satisfactory wage settlement.

We expressed our deep resentment over the delay in settling the genuine demand of a satisfactory wage settlement and the attempt to link the wage revision to the developments in other financial institutions. We made it clear that the offer of 17.5% was not acceptable to us and that wage revision in LIC has to be on the basis of the strength of LIC and the total premium income. We said that the Unions were compelled to take to the path of agitation in the absence of any visible efforts to settle the wage revision demand early on the basis of the premium income of LIC.

Today the joint meeting of the unions took place at Mumbai to review the developments. The unanimous opinion of the unions was that the present round of discussion was called under the pressure of the agitation.

The meeting was of the firm opinion that if the LIC has emerged as a super performer in the era of competition, it is singularly because of devotion , hard work and commitment of all sections of the employees and Officers. The employees and Officers after exhausting all powerful avenues to secure justice were forced to resort to agitation.

However, considering the appeal made by the Chairman and the Managing Director to review the agitational programme and give some more time to the management to work for a satisfactory wage settlement, the Unions have decided to defer the present agitational programme.

Having taken this decision in the interests of the institution, the unions expect that the Chairman and the team will speed up efforts to honour the commitment on a satisfactory wage settlement on the strength of LIC at the earliest. The joint meeting also decided that the joint front shall be sustained and strengthened to ensure a good wage revision which the employees and Officers deserve.

Yours faithfully,
Sd/-
General Secretary,
National Federation of Insurance Field Workers of India (NFIFWI)
Sd/-
General Secretary,
All India Insurance Employees’ Association (AIIEA)
Sd/-
General Secretary,
All India Life Insurance Employees’ Association (AILIEA)
Sd/-
General Secretary,
All India National Life Insurance Employees’ Federation (INTUC)
Sd/-
General Secretary,
Akhil Bhartiya LIC Chaturth Shreni Karmachari Sanghtana (Cl.IV – INTUC)
Sd/-
General Secretary,
Bhartiya Vima Karmachari Sena (BVKS)
Sd/-
General Secretary,
National Organisation of Insurance Officers (NOINO-BMS)
Sd/-
General Secretary,
National Organisation of Insurance Workers (NOIW-BMS)