FEDERAL BANK ALLOW SUBSIDY ON MEDI INSURANCE RENEWAL PREMIUM 2021_22

[PM]

FOR INFORMATION:

Good Gesture by bank.

FEDERAL BANK LTD, has allowed subsidy for  renewal premium of group Medi Insurance Policy for retirees for 2021-22.

Bank states in their web site:-

"As a gesture of goodwill, the Bank shall bear a portion of premium applicable under Option I - Without Domiciliary Coverage in respect of all retired employees, subject to a maximum of Rs.25,950/- for Retired Officers and Rs.20,350/- for Retired members of Award Staff [at a differential rate on the basis of the type of coverage (family/single) and the Basic Sum Insured slab opted by the beneficiary]. "

**           **            **

Another message on the subject is also furnished here under for information.

IBA Medical Insurance Policy 2021-22*.

 *Bank Subsidy per member increased to Rs. 25950.00* 

*Bank sends Individual Emails*

"This is to inform all our members that the Bank has already sent email intimation to all Retirees/ Family pensioners with the details for the renewal of Medical Insurance Policy for the coming year wef 1st November 2021.

 Though we have requested the Bank to extend 70% subsidy  to the GST component also considering the possibility of a steep hike in the premium vide our representation dated 15 th september 2021, unfortunately the same factor of the steep hike turned out to be a serious deterrent with an unprecedentally heavy commitment for the Bank per policy holder. However we are grateful to the Bank Management in general and to Shri Shyam Srinivasan, MD&CEO, in particular for continuing the 70% subsidy for the premium( without the GST) extending an assistance of more than Rs. 25000/- per person for every retired officer and a proportionate committment for Family Pensioners.

Detailed circular follows.

With warm regards

KT Thomachan

General Secretary."

[Parvatam Veera Bhadra Swamy]

Really a good initiative and all banks are to follow the same gesture to all retirees who have contributed their might for development of their respective banks.

Pvbswamy 

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/6d157217-5cd5-41a5-99ed-60c35c3e1c59n%40googlegroups.com.

[Debasish Mukherjee]

Federal Bank management certainly taken a novel and retirees welfare step by contributing a substantial amount as subsidy towards IBA group medical Ins. for the retirees. But other Bank authorities have not responded to the appeals of the retirees for such contribution for payment of IBA GHI premiums by the Banks.
                 Most of the retirees are totally disgruntled and annoyed for continuous increase of medical Ins.premiums by the insurers of IBA GHI and neither the insurers nor the Banks agreed to consider the retirees repeated appeals. Even the UFBU and AIBEA leaders only made mockeries. This compelled several Banks retirees searching for alternative way and approached other insurers both PSU and Private. New India Assurance has agreed to cover this insurance covering all existing diseases as covered by IBA scheme at a lesser than 50% premium of the National Ins. Co. and MOST OF THE BANKS RETIREES ARE BELIEVED TO EXIT FROM IBA GROUP MED. INS. SCHEME AND JOIN IN THIS ALTERNATIVE NEW INDIA INS. SCHEME. ONCE THIS HAPPENS THE BANKS AND EMPLOYEES WILL FACE THE CONSEQUENCE SINCE THE BANKS AUTHORITIES IN CONNIVANCE WITH THE UFBU HAD TAKEN THE RETIREES FOR A RIDE COMPELLING THE RETIREES FOR SHOULDERING EXORBITANT AMOUNT OF INSURANCE PREMIUMS TO SUBSTANTIATE PAYMENTS FOR PREMIUMS OF THE EMPLOYEES AND EXECUTIVES BY THE BANKS OUT OF THE RETIREES MEAGRE AMOUNT OF PENSION. 

Debasish Mukherjee.

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/6d157217-5cd5-41a5...@googlegroups.com.

[Sanjay J]

Dear Shri PMji,

I wonder with awe at every mail of yours. You are certainly a valuable person in this blog.

You forward so many correspondences from so many bodies/sources, which an ordinary person like me would not definitely have a glimpse of.

The beauty of it is, you don’t taint those letters with your personal opinions, assumptions, guess etc., you leave it to the members to come to their own conclusions.

It is a pleasure and very informative to read each and every mail of yours.

--

Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/6d157217-5cd5-41a5-99ed-60c35c3e1c59n%40googlegroups.com.

[Anantharaman Tg]

Federal Bank is a private Bank. They may afford to extend

such benefits, but can we expect the Nationalised Banks

to come to our rescue? 

--

[mohan p]

Thank you,Sanjay ji for your valuable comments.

Regards,

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAP9-UeKB6rZtfTTDgrfc5bUuKsAUbSB1X1DtLKpCeM31ko42Tw%40mail.gmail.com.

[Amiya Mishra]

As per Federal Bank circular

1-Base 4 lakhs+Top up 3lakhs = 7 lakhs total premium is 50698.

2-Base 3 lakhs+Top up 4 lakhs = 7 lakhs total premium is 42701

Union demand for subsidy,GST waiver are Nice steps

My point is the difference in premium for policy of 7 lakhs.

When base policy is 4 lakhs premium is high and when base is 3 lakhs premium is less but both policy will cover upto 7 lakhs

Why the difference in premium

Amiya Kumar Mishra

Sent from Yahoo Mail on Android

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAE2nyrd9w39jf%2BJ-MrCdJekARw-U%3DdeGJC7G-YN9_VwAC1e3GA%40mail.gmail.com.

[PM]

FOR INFORMATION:

AIBPARC/IBA/GMISR/Email/2021 Date: October4, 2021.

The Chairman,
Indian Banks Association,
Mumbai.

Respected Sir,

Sub: Group Medical Insurance Scheme for Bank Retirees for
the year 2021--22.
An appeal for SOS.

You are well aware of the fact that the annual premium of the above
policy has reached an unaffordable extent this year and for last few months, We have been assiduously drawing your kind attention to the fact that the Employer (Bank
where the Retiree served) will have to come forward for sharing a substantial portion of the cost and
also bear the GST component of the premium.

Quite contrary to the assertion of The Hon'ble Union Finance Minister in the 73rd AGM of IBA that the
past Employees and Officers should be treated as members of the same family by the Banks, We note
with anguish that the Retirees have been kept outside the orbit of the greater family and for them, their
past Employers are not prepared to make any amount of sacrifice as far as the exorbitant cost of
renewal is concerned.

Sir, this has surely come to your knowledge that one Member Bank in the Private Sector to the BPS/JN
has decided to bear a substantial portion of the cost of premium for the retired employees. We
congratulate the Management for showing a feeling of one--ness with the former employees of the
Bank and play the role of a path--setter in the Industry. We hail this particular act as an example of the
proper display of model of Industrial relations.

Sir, Time is still not a constraint. If the Managing Committee of IBA virtually meets to take a view on
the subject, there is enough time to implement. As each Bank generally debits individual account of
the Assured at the fag end of the month, there is lot of time in hand.
In case Bank does not consider the appeal, the consequences are also well known to IBA from the
statistics of previous years. Ever--increasing premium and ever--dwindling number of the persons
assured are in fact synonymous.
In view of all that has been told in the foregoing paragraphs, please take it as a call for SOS
from the elder citizens of the Industry and we request you fervently to re--visit the issue with
compassion and pragmatism.

With kind regards,

Yours faithfully,
Suprita Sarkar
General Secretary.

[Prasad C N]

Dear friends,

Personally, I feel that the Bank Retirees' Organisations represent elitist sections of Bank Pensioners.  This is because they demand Subsidy.  Subsidy is payable only to those who can pay premium to the extent of Rs.40,000/-.  Those who cannot pay even Rs.10,000/-, who are in vast majority are deprived of any benefit of Medical Insurance.  

The leaders of Bank Retirees' Organisations and those who are vocal belong to creamy layer and not bothered about those Bank Pensioners who are not even receiving Pension of Rs.10,000/-.

Thanks, a Million. 

With regards,

Prasad C N

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/594779790.1114709.1633261118449%40mail.yahoo.com.

[Debasish Mukherjee]

Can anybody deny your view? Whom you meant creamy layers amongst the pensioners? A majority section of the pre 2007 retirees are inu financial distress and for them payment of medical.ins.premium is a serious concern in today's skyrocketing retail market price. Retirees before IX th BPS are equally sufferers. So long the powerful influential UFBU leaders and the IBA officials do not change their policy of deceiving and extracting money from the retirees in whatever  way they can to compensate the Banks liability towards payments of medical insurance premiums for the in service employees and executives retirees cannot expect any remedy. IBA, the Banks authorities and leaders of UFBU have framed the policy of deceiving the retirees in every way and have taken the retirees for a ride of passing all the financial burdens to the retirees so that the Banks authorities can enjoy all sorts of advantages at the cost of the poor retirees.

There is no difference between the unscrupulous politicians and the UFBU leaders and IBA officials. A dangerous nexus between the IBA, UFBU and the Banks authorities have been formed to eliminate the retirees so that the Banks can avoid payments of some sorts of liabilities towards retired employees.

Debasish Mukherjee.

Sent from RediffmailNG on Android

To view this discussion on the web visit https:roups.google.com/d/msgid/bankpensioner/6d157217-5cd5-41a5...@googlegroups.com.

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/CAE2nyrd9w39jf+J-MrCdJekARw-U=deGJC7G-YN...@mail.gmail.com.

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/594779790.11147...@mail.yahoo.com.

--
Visit our blog site http:://bankpensioner.blogspot.com
---
You received this message because you are subscribed to the Google Groups "bankpensioner" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/446731807.12497...@mail.yahoo.com.

[Nagaraju Kakani]

RETIREE ORGANISATIONS - LEADERS - ELITIST - VOCAL - CREAMY LAYER.

****************************************

Sairam, Good Morning.

             Keeping in view the discussion going on, on the above subject, I personally feel no body is against giving the subsidy to those drawing very low pension or meager pension.

              In view of this ,can some body through light on how much pension to be treated as Creamy layer category and how much to be treated as low or meager. Further what is the number of those pensioner drawing less than Rs.10K per month.

              Till now, no organisation of banking sector published any authenticated information on the classification of Pensioners -  year wise, bank wise, cader wise, gender wise, BPS wise, the number and amount involved, so that every body will be in the knowledge of the matter on which they are expressing their opinion.

               I request those who maintain the Pensioner's statistics can give the eloberate details/ information, on pension matters, so that we may not plead unlawfull demands on the pension matters either with Our Organisations,/UFBU, /IBA, DFS/, Govt or with in ourselves or in the social media, not to create a public ill feeling about Bank Pensioners.

                We are already Branded as Highly Paid, White Collared Employees., with all means to sustain our lives.,without any improvement in the Pension.

                If every body knows about the Pension classification, good many may come forward to fore go the subsidy, if it is really causing / depriving others to loose the subsidy.

                It is not a criticism or to hurt any body, but it is only my personal aungish on my self,for my inabilty to sustain my self.

                Though I earn 29 K pension per month, even after  having a own house but at a different place , being let out, and my  children settled in India/Abroad.

                And I am still willing to take IBA MHI policy with 55K Premium, though it is equal to my 2 months pension.

                Further looking for another addl  policy for another 10- 15 lacs insured amount , as I incurred heavy expenditure of more than 20 lacs due to my major ill health during this policy year just for treatment and medicines. 

With regards,

Nagaraju Kakani,

Hyderabad.

To view this discussion on the web visit https://groups.google.com/d/msgid/bankpensioner/446731807.1249767.1633325149891%40mail.yahoo.com.