tag:blogger.com,1999:blog-8129243508297683768.post8339756137566922612..comments2017-02-08T06:38:00.425-08:00Comments on PENSION HELP CELL IESM: Letter to Secy , ESWIndian ExServicemen Movementhttp://www.blogger.com/profile/15074131359293729187noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8129243508297683768.post-31665206204405830092010-04-18T20:34:52.947-07:002010-04-18T20:34:52.947-07:00Excellent re-cap of civil service (incl defence pe...Excellent re-cap of civil service (incl defence personnel) pension history of India. Despite the Supreme Court judgement on restoration of full pension after 15 years into retirement, it is sad to see how this is being played out differently in some of the branches of larger civil service area(e.g PSUs, basically due to individual egos,prejudicial mindsets, or just incompetency. The statement that "pension (part or whole) can never be fully commuted; it is just advance amount paid against future benefits (based on actuarial assumptions). Once this advance + interest get recovered by reduced pension, full pension must be restored. SC common cause judgement in this respect was truly historical in asserting certain human rights and values: (1) if pension is a benefit to cover life-span, no actuarial or other sicence can pre-determine it in advance; (2)value of pension cannot be pre-determined because it is subject to CPI, quality of life, etc. Hence, any equivalent lump sum in lieu of pension has no basis. At best it is notional, while it is intended to benefit the pensioners to meet immediate obligations in recognition of past loyal services to the government.<br />Even in the case of Life Insurance premiums, one of the Canadian courts declared that it is unlawful to collect periodic premiums, toalling more than the sum assured.V.Muthuswamihttps://www.blogger.com/profile/00649929059343917169noreply@blogger.com