Negotiations by Class I Officers' Associations - 1997

Source: http://www.business-standard.com/article/specials/lic-officers-demand-bank-grade-pay-packet-197100401007_1.html

Business Standard

Lic Officers Demand Bank-Grade Pay Packet

BSCAL  October 4, 1997 Last Updated at 00:00 IST

The Life Insurance Corporation Class I Officers Association is firming up its demands to be presented before the management for the forthcoming round of wage negotiations. A few days ago, office bearers of the association from all over the country met in Mumbai to finalise their agenda. Speaking to Business Standard, O P Vashisth, general secretary, Federation of LIC Class I Officers Association, said the final charter will be finalised shortly and presented to the management by the end of this month.
The LIC Officers Associations have decided to oppose the central governments attempts to privatise the insurance industry. They are also unhappy that the management of the corporation has not brought the salaries of the insurance officials at par with that of bank officers. They are also demanding rationalisation of the pay structure within the organisation. Vashisth said the association is likely to adopt a tough stance, especially on the issue of parity with bank officers.
He said that on August 17 last, the National Confederation of General Insurance Officers Associations (NCGIOA) and the Federation of L I C Class I Officers Association had decided to form a common front for negotiating on issues pertaining to privatisation and pay revision. This decision has been taken keeping in view the pay revision which fell due on August 1 this year. It was then decided that the two associations would submit a similar if not a common charter of demands to the management of LIC and General Insurance Corporation.
According to an official with the association, efforts are on to evolve a common charter of demands. The pact had been signed following a meeting between the associations. The officers expressed concern for protecting the policy holders interest and the flow of funds to the infrastructure sector.
He said it was unfortunate that the government has not yet implemented the proposal that gave the management of LIC the right to negotiate with the officers and unions directly.
It might be recalled that the finance minister while presenting the budget for 1997-98 had come up with this proposal.
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Kindly refer to my blog dated 09.04.2016 titled

The origin of repudiation of arrears in LIC of India