Latest News On Medical Insurance Scheme For Bank Staff

UNION BANK RETIRED EMPLOYEES' ASSOCIATION

(Registered under Trade Union Act, 1926 : Registration No.G-6201)
(Affiliated to All India Bank Retirees' Federation
through All India Union Bank Retirees' Federation)
203, Navkar Commercial Complex, Near Syndicate Bank,
Near Para Bazar Chowk, Dhebar Road - North (one way),
Rajkot - 360 001 (Gujarat).  Phone: 0-94272-07021

  E-mail < ubiretirees@gmail.com > < rajkot@ubiretirees.in >  

======================================================

Date: 1st October,'16

Friends,

UP-DATION OF OUR PENSION

   

 (1) When I met a retired Engine Driver of the Railway before about a fortnight at Rajkot, he told me that he retired on 31st December,'15 and getting pension of Rs.55,000/- per month at present.

(2) While I was travelling by train from Ahmedabad to Nagpur to attend CC Meeting of All India Bank Retirees' Federation last week, I had got an opportunity to meet a retired Executive Director of Indian Overseas Bank. (He was also coming to attend CC Meeting of AIBRF). He told me that he had retired during the year 2003  and getting 100% neutralization dearness relief; but his aggregate pension per month at present is Rs.33,000/-.

(3) If we peruse the figures of Pension Corpus of all the Public Sector Banks, the same reveal that though number of pensioners are increasing every year, the aggregate amounts of Pension Funds are also increasing rapidly. It means the pension corpus are more than adequate.

(4) However, the Indian Banks' Association says that the Banks' Pension Corpus are not adequate to update our pension in parity with the Central Government Employees.  

Yours sincerely,

B.G.Raithatha,

General Secretary

Interim Arrangement made by Union Bank of India for reimbursement

of hospitalization expenses to the employees-in-service

   Union Bank of India is contending that during one year's period ending on 30th September,'16, the insurance claims aggregating Rs.34 crores were paid by the United India Insurance Company to the Bank's employees in service. As against that the Insurance Company is asking for renewal premium of Rs.52 crores for the next year. Obviously this is unreasonable. Therefore, the Bank has decided not to pay renewal premium at present.

    Several other Banks have also taken the same stand. The Managing Committee of the Indian Banks' Association will meet on 7th October,'16 to discuss and decide the issue. Final decision will be taken by these Banks thereafter.   

    Till any arrangement for tie-up with an Insurance Company is made, the Banks themselves will sanction / reimburse hospitalization expenses to the serving employees. 

More communications from AIBEA and IBA regarding

Medical Insurance Scheme for employees in service 

Please see the one attachment containing (i) Circular dated 1.10.'16 issued by AIBEA to its affiliates and (ii) Circular DATED 1.10.'16 issued by IBA to its member Banks.

   ALL INDIA BANK EMPLOYEES' ASSOCIATION

Central Office:  “PRABHAT NIVAS”    Regn. No.2037

Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001

Phone: 2535 1522    Fax: 4500 2191,  2535 8853    Web: www.aibea.in

e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com

CIRCULAR LETTER NO. 27/212/2016/45       October, 1, 2016

TO ALL OFFICE BEARERS/ STATE FEDERATIONS /
ALL INDIA BANKWISE ORGANISATIONS

Dear Comrades,

 Reg: Medical Insurance Scheme

We have already forwarded the copy of our letters to IBA dt. 25th, 28th and 29th September, 2016 regarding the premium payable on the Medical Insurance Policy for renewal of the same.  While the hike in premium demanded by the UIIC is on the higher side and it has been unilaterally decided by them and hence the issue must be taken by IBA/Banks with UICC, it is unacceptable that the policy may not be renewed and employees will be kept uncovered.  Hence we had taken up the matter immediately and strongly with the IBA.

We learnt today that about 18 Banks have already paid the premium for renewal.

Andhra Bank	Dhanlaxmi Bank Ltd.
BNP Paribas	Federal Bank
Dena Bank	Karnataka Bank
Indian Overseas Bank	South India Bank
Bank Of Baroda	Karur Vysya Bank Limited
Bank Of Maharashtra	Nainital Bank Limited
Central Bank Of India	Ratnakar Bank Ltd
United Bank Of India	UCO Bank
Bank Of America	Vijaya Bank

IBA has sent their communication to day informing that Banks that if the Policy is not renewed by paying the revised premium, liability on account of hospitalisation claims by employees will have to be honoured by the banks.

Our units in other Banks should immediately pursue the matter with their management to ensure that the policy is not allowed to lapse and employees do not get uncovered by the benefits of the policy.  

        

With greetings,

                                                                       Yours comradely,

C.H. VENKATACHALAM

GENERAL SECRETARY

Pto: IBA communication

INDIAN BANKS ASSOCIATION

HR & INDUSTRIAL RELATIONS               

No. CIR/HR&IR/J/2015-16/1169                                     

October 1, 2016

 Participating Bank of Group Medical Insurance Scheme

 Dear Sir/Madam,

 Renewal of Group Health Medical Insurance Policy for Employees, 2016-17

We refer to our Circular No. CIR/HR&IR/J/2016-17/1151 dated 28th September 2016, in terms of which participating banks of said Insurance Policy were advised that the United India Insurance Co. Ltd. has not acceded to the request to continue the existing policy at least for one month i.e. up to 31.10.2016 at existing premium rates by paying pro-rata premium for additional one month. As the term of existing policy was expiring on 30.09.2016, the premium for renewal of the policy was to be paid before 1.10.2016 to continue the coverage under the policy. Banks were therefore advised to do the needful accordingly, considering all the aspects. The United India Insurance Co. Ltd. was once again requested to extend the policy term up to 31.10.2016 vide our letter No.HR&IR/ KSC/ XBPS/ J/ 1158 dated 29th September 2016, as the matter is to be discussed in the Managing Committee of IBA in its meeting scheduled to be held on 7.10.2016. However, the Insurance Company has shown their inability to extend the same. 

2. Keeping in view the fact that the premium rates given by the Insurance Company for renewal of said policy are final from their side and also the consequences to be caused due to non-renewal of the policy on 1.10.2016, following banks have already remitted the insurance premium amount to the United India Insurance Co. Ltd. 

1	Andhra Bank	9	BNP Paribas
2	Bank Of Baroda	10	Dhanlaxmi Bank Ltd.
3	Bank Of Maharashtra	11	The Karur Vysya Bank Limited
4	Central Bank Of India	12	The Nainital Bank Limited
5	Dena Bank	13	The Ratnakar Bank Ltd
6	Indian Overseas Bank	14	Karnataka Bank
7	United Bank Of India	15	South India Bank
8	Bank Of America

3. In the absence of renewal of the policy, liability on account of hospitalization claims by employees post 30.09.2016 will have to be honoured by banks. Hence, the participating banks are advised to take a considered decision on renewal of the policy without further delay.

 Yours faithfully,

 K UNNIKRISHNAN

CHIEF EXECUTIVE (OFFG.)