ON my RTI application, reply received from Indian Oil Corporation (IOC) is quite interesting - IOC says they have taken action on DPE guidelines but no action by ONGC!!
Indian Oil Corporation Limited
Corporate Office : Plot No. 3079/3
Sadiq Nagar, J.B. Tito Marg, New Delhi-110 049 Gram : OILREFIN
Website: www.iocl.com
Corporate Office
By Speed Post
18.10.2011
No. DP/6/21
Shri.M.Rangaajan,
(Retired Group General Manager, ONGC) B-2-301, SRIRAM SPANDHANA,
Cheltaghatta village,
Bangalore-560037.
Sub: Information under The Right to Information Act, 2005. Dear Sir,
This refers to your application dated 17.09.2011, together with application fee Rs. 10/-
vide IPO No. OOF 321525, seeking information under the Right to Information Act. This application was received by us on 21.09.2011.
We have examined your request for information with regard to the "Retirement Benefits & Pension Scheme granted to Retired employees", and our point-wise response to the information sought by you is given below:
Qry.No.1- List all Retirement Benefits granted to Retiring Employees of your esteemed Company along with copies of all relevant Office Orders.
Reply. - As provided under DPE guidelines conveyed vide their OMs dated 26.11.2008 & 02.04.2009. effective from 01.01.2007 the following retirement benefits are available to IOC employees at the time of Superannuation. In order to fund these retirement benefits, the Corporation is allowed to contribute upto a maximum of 30% of BP and DA of the employees.
a) Provident Fund: As per the Provident Fund and Miscellaneous
provisions Act, 1952.
b) Gratuity: As per the Payment of Gratuity Act, 1972.
c) Superannuation Benefit Fund Scheme: The Scheme is being operated on defined contribution basis w.e.f.01.01.2007 as per provisions of the
DPE guidelines. The monthly contribution made by the Corporation out of the prescribed limit of 30% of BP and DA and individual's contribution @ 2% of BP and DA is deposited in individual's account. The funds are
invested and the returns received are distributed to individual's account at the end of the year. At the time of superannuation, annuity is purchased from the fund available in the individual's account from LIC and the employee starts receiving a monthly benefit from LIC from the date of his superannuation. The benefit varies depending upon the Option exercised by him under the LIC Scheme. There is a provision to allow commutation of one-third of the annuity amount.
d) Post-Superannuation Medical Benefits: Based on the actuarial assessment, the Corporation is contributing a portion out of the
maximum permissible 30% of BP and DA of the employees towards post retirement medical liability. A retiring employee also makes a one time lumpsum contribution at the time of superannuation while joining the scheme. The medical benefits comprising of domiciliary, investigative and hospitalization expenses are met by the Corporation upto ceilings wherever prescribed, out of the fund. The employee, spouse, dependent parents and mentally retarded child/children, if any are covered for medical benefits under the scheme.
The Scheme of Superannuation Benefit Fund consists of 9 pages and that of Post Superannuation Medical Attendant Scheme consists of 14 pages. In case you desire a copy of these schemes, the same can be provided to you on payment @ Rs.2/- per page as per the Right to Information Act (Regulation of Fee & Cost) Rules, 2005.
Qry.No.2 Pension Scheme (or Ex-gratia) formulated for the retired employees of your esteemed company along with copies of all relevant Office Orders and instructions.
Reply - A voluntary and self contributory Superannuation Benefit Fund Scheme was introduced in the Corporation effective from 01.11.1987 as a welfare measure. The scheme was being operated as a "Defined Benefit Fund Scheme". In order to meet the requirements under the DPE guidelines, this scheme- had to be converted into a "Defined Contribution Scheme" w.e.f. 1.1.2007 as mentioned in our reply to Item number 1, For the benefit of the employees of IOCL who superannuated before introduction of the above mentioned Superannuation Benefit Fund Scheme effective from 01.11.1987 an Ex-Gratia Scheme is in existence since 2003. Ex-employees eligible under this scheme are receiving a monthly ex-gratia amount which is reviewed from time to time.
The Ex-gratia Scheme consists of 4 pages. Should you desire a copy of the Scheme the same can be provided on payment @ Rs.2/- per page as per the Right to Information Act (Regulation of Fee & Cost) Rules, 2005.
Qry.No.3 Have your esteemed company created a Fund for welfare of retired employees as per Department of Public Enterprises Government of India OM No.2 (81)/08-DPE (WC)-GL-XVI/2009 dated 8th. July 2009 (copy enclosed). Copy of relevant Instructions/Office Orders issued for utilization of the fund.
Reply - No separate Corpus Fund has been created in Indian Oil Corporation Limited.
Qry.No.4 Statistics on utilization of the Fund for past 2 years in the following format:
Year Amount credited to Amount spent to the Balance at end of year Remarks
the fund during the fund during the year as on 31st. of March
year
2009-10 2010-11
Reply- Not applicable in view of reply to Qs.3 above
In the event you prefer to appeal against the above decision, you may do so within 30 days from the date of receipt of this letter to the Appellate Authority whose details are given
below:
Shri Satish Kumar,
Executive Director (HR) & Appellate Authority, IOCL, Plot No. 3079/3,
Sadiq Nagar, J.B. Tito Marg, New Delhi-110 049.
Thanking you,
Yours faithfully,
(C. Vishalakshi)
Dy. General Manager (HR) & Central Public Information Officer
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