<ul><li>Life Insurance Corporation (LIC) employees will see their wages being revised with effect from 1 August 2022.</li><li>LIC will spend about Rs 29,000 crore on wages every year, an increase of 17% in the annual wage bill.</li><li>A one-time ex-gratia payment will be made to LIC pensioners, benefiting over 30,000 pensioners and family pensioners.</li><li>The wage revision was notified by the Finance Ministry, benefiting over one lakh employees.</li></ul>

Wage revision for LIC staff w.e.f August 2022

Discover more