**Executive Summary:**
This notification from the Ministry of Finance amends the Life Insurance Corporation of India Employees Pension Rules, 1995. The amendment, effective from the date of publication in the Official Gazette, substitutes Appendix I of the 1995 rules, pertaining to appointing authorities for various employee categories. The notification was issued on March 26, 2018.
**Key Points / Main Content:**
* **Amendment Details:**
* The notification amends the Life Insurance Corporation of India Employees Pension Rules, 1995.
* Appendix I of the 1995 rules is substituted with a new Appendix I.
* **Effective Date:**
* The amendment came into force on the date of its publication in the Official Gazette.
* **Appendix I - Appointing Authorities:**
* Chairman and Managing Director: Central Government.
* Zonal Manager and above, and Executive Committee equivalent: Chairman.
* Deputy Zonal Manager/Senior Divisional Manager/Divisional Manager and equivalent: Zonal Manager.
* Assistant Divisional Manager/Senior Branch Manager and equivalent: Divisional Manager.
* Branch Manager/Administrative Officer/Executive Officer Personnel: Deputy Zonal Manager.
**Impact Analysis:**
* **Life Insurance Corporation of India Employees:**
* Impact: Affects the reporting structure and authority for appointments within the organization, specifically related to pension rules.
* Action Required: Be aware of the changes in appointing authorities for different employee categories.
* **Central Government:**
* Impact: Central Government is the Appointing Authority for Chairman and Managing Director.
* Action Required: To note their role as the appointing authority for the Chairman and Managing Director.
* **Ministry of Finance (Department of Financial Services):**
* Impact: Responsible for issuing and implementing the amended rules.
* Action Required: Ensure the amended rules are properly implemented and communicated.
Key Entities Referenced
Life Insurance Corporation Act, 1956: The act under which the Central Government is exercising its powers to amend the Life Insurance Corporation of India Employees Pension Rules.
Life Insurance Corporation of India Employees Pension Rules, 1995: The pension rules being amended by this notification.
Life Insurance Corporation of India Employees Pension Amendment Rules, 2018: The short title given to the amendment rules.
Ministry of Finance: The ministry under which the Department of Financial Services is publishing the notification.
Department of Financial Services: The department within the Ministry of Finance responsible for issuing the notification.
N. SRINIVASA RAO: Economic Advisor whose name is mentioned at the end of the notification.
Central Government: The governing authority making the amendments to the pension rules.
New Delhi: The location where the notification was issued. New Delhi, Delhi
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(1) (2) (3)
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1803 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(iii) उप आंचिलक (cid:12)बधं क/+य े,ठ (cid:12)भागीय (cid:12)बंधक, (cid:12)भागीय अ(cid:23) य(cid:24)
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[फा.सं. एस-11012/02/2017-बीमा-1]
एन. >ीिनवास राव, आ@थक सलाहकार
(cid:10)(cid:10)(cid:10)(cid:10)टटटट(cid:12)(cid:12)(cid:12)(cid:12)पपपपणणणणःःःः मूल िनयम, भारत के राजप+, असाधारण, सा.का.िन. 525(अ) तारीख 28 जून, 1995 (cid:16)ारा (cid:18)कािशत
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1. सा.का.िन. 265(अ) तारीख 3 जुलाई, 1996;
2. सा.का.िन. 225(अ) तारीख 22 अ(cid:18)ैल, 1997;
3. सा.का.िन. 349(अ) तारीख 14 मई, 1999;
4. सा.का.िन. 804(अ) तारीख 6 (cid:1)दसंबर, 1999;
5. सा.का.िन. 553(अ) तारीख 22 जून, 2000;
6. सा.का.िन. 590(अ) तारीख 13 अग:त , 2001; और
7. सा.का.िन. 830(अ) तारीख 8 (cid:1)दसंबर, 2010 ।
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 26th March, 2018
G.S.R. 282(E).— In exercise of the powers conferred by Section 48 of the Life Insurance Corporation Act,
1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance
Corporation of India (Employees) Pension Rules, 1995, namely:-
1. (1) These rules may be called the Life Insurance Corporation of India (Employees) Pension (Amendment)
Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Life Insurance Corporation of India (Employees) Pension Rules, 1995, for Appendix-I the following
Appendix, shall be substituted, namely :—
“APPENDIX I
[See rule 2(f)]
Sl. No. Category of Employees Appointing Authority
(1) (2) (3)
(i) Chairman of the Corporation and Managing Director Central Government
(ii) Posts in the Cadres of Zonal Manager and above and Executive Committee
equivalent cadres¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
(iii) Posts in the Cadres of Deputy Zonal Manager/Senior Chairman
Divisional Manager, Divisional Manager and
equivalent cadres
(iv) Posts in the Cadre of Assistant Divisional Manager, Managing Director
Senior Branch Manager and equivalent cadres
(v) Posts in the Cadre of Branch Manager/Administrative Executive Director
Officer (Personnel)”.
[F. No. S-11012/02/2017-Ins.I]
N. SRINIVASA RAO, Economic Advisor
Note: The principle rules were published in the Gazette of India, vide notification number G.S.R. 525(E) dated the
28th June, 1995 and subsequently amended vide following notification numbers as under:
1. G.S.R. 265(E) dated the 3rd July, 1996;
2. G.S.R. 225(E) dated the 22nd April, 1997;
3. G.S.R. 349(E) dated the 14th May, 1999;
4. G.S.R. 804(E) dated the 6th December, 1999;
5. G.S.R. 553(E) dated the 22nd June, 2000;
6. G.S.R. 590(E) dated the 13th August, 2001 and
7. G.S.R. 830(E) dated the 8th December, 2010.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.