""FLASH NEWS""

"" CENTRAL GOVT MAY RAISE RETIREMENT AGE TO 62 YEARS MAY LIKELY CLEAR IN THIS WEEK(3RD WEEK OF FEB.,2014). THIS WOULD BE APPLICABLE FROM 1st MARCH 2014....."" Dearness Allowance Increased by 25 slabs w.e.f. 01-02-2014 to all General/Life insurance/Bank workmen""..."" PF Election Result Declared in NEW INDIA our "NFGIE" Panel 2, 5, 7 & 8 win WITH THUMPING MAJORITY DETAILS as follows: BALLOT NO., NAME, NO. OF VOTES SECURED RESPECTIVELY:- 2 VITTHAL CHAVAN 8135; 7 ANIL SONAWANE 8114; 8 VENKITASUBRAMANIAN 8109; 5 RAVI SAWANT[V.A.] 8013; NOW "BVKS PANNEL" WHO LOST THE BATTLE ONCE AGAIN : 1 VIJAY AGATE 7431; 3 VIJAY DICHOLAKAR 7020; 4 SASI P R 6996; 6 DR AMRISH SINHA 6959. WE EXPRESS OUR SINCERE THANKS AND GRATITUDE TO ALL WHO SUPPORTED "NFGIE PANNEL" GOT ELECTED WITH THUMPING MAJORITY AND REPOSED CONFIDENCE IN 'NFGIE' WHO ONLY CAN PROTECT HARD EARNED PROVIDENT FUND OF EVERY NEW INDIAN."".... ""AFTER PRETTY LONG PURSUATION BY 'NFGIE' WITH NEW INDIA MANAGEMENT, AT LAST GIVEN APPROVAL FOR REVISION IN EX-GRATIA RELIEF FOR UNCOVERED MEDICAL EXPENSES FOR HIGH COST/PROTRACTED DISEASES""...."" Mr. Sujit Bagchi,General Secretary & Mr.T.K.Sathish Kumar,Working President will attend meeting with GIPSA on 27.11.2013 on behalf of 'NFGIE'."" IRDA LAUNCHES INSURANCE REPOSITORY SYSTEM TO PROVIDE ITS POLICY HOLDERS THE FACILITY TO KEEP INSURANCE POLICIES IN ELECTRONIC FORM"...."" D.A. INCREASED BY 48 SLABS W.E.F. 01-NOV-2013""....AT THE PERSISTENT JOINT MOVEMENT OF 'JAC' MEMBER UNIONS/ASSOCIATIONS (EXCEPT AIIEA -GURUMURTHY GROUP)ONCE AGAIN 'GIPSA' INSTRUCTED ALL IT'S MEMBER COMPANIES TO PUT ON HOLD IMPLEMENTATION OF REVISED 'GMC POLICY' TILL FURTHER ADVISES - IT'S A VICTORY OF "JAC"- "PROVED ONCE AGAIN 'UNITY IS OUR STRENGTH' -LET'S KEEP IT UP"..... ""EMP.PF ORGANISATION MAY ANNOUNCE HIGHER RATE OF INTEREST ON PF DEPOSITS FOR OVER 5 cR. SUBSRIBERS IN THE CURRENT FISCAL(FOR 2013-14)- EARLIER INTEREST @ 8.5% FOR 2012-13,@ 9.5% FOR 2010-11; @8.25% FOR 2011-12 THIS IS FOR INFORMATION"".... ""AICPI(BASE YEAR 2001=100)RAISED TO 235 POINTS FOR JULY,2013""...."" UPON OUR STRONG PROTEST, AT LAST "GIPSA' HAS AMENDED THE CONDITIONS IN NEW GROUP MEDICLAIM POLICY WHICH IS EFFECTIVE FROM 01ST NOV.,2013 - No TPA charges be levied; Expanded Sum Insured options etc."".. "DEARNESS ALLOWANCE INCREASED BY 32 SLABS W.E.F. 01st AUG.,2013(friday)""" ...."" F.D.I. CAP HIKED IN KEY SECTORS BY UPA GOVT. INCLUDING 49% IN INSURANCE SECTOR AWAITING CLEARANCE IN RAJYA SABHA""..""ALL CLASSES OF INSURANCE EMPLOYEES (CLASS-1,2,3&4)BE UNITE AND STRONGLY OPPOSE AND PROTEST TILL WE SUCCEED -: 'JAGO' 'JAGO' MITHRO':- ..""AICPI(BASE YEAR 2001=100)RAISED TO 228 POINTS FOR MAY,2013, AGAINST 226 POINTS IN APRIL, 2013""....""WITH AN EYE ON THE LONG-TERM HORIZON OF INSURANCE AND PENSION FUNDS, FINANCE MINISTER P.CHIDMBARAM, ON TUESDAY(18TH JUNE,2013) MAINTAINED THAT INFRASTRUCTURE DEBT FUNDS(IDFs)SHOULD TRY TO MOBILISE RESOURESCE FROM THESE SECTORS:...""MEMBERS OF NFGIE & GICE UNIONS from ALL STATES PAYS HOMAGE TO THE PEOPLE WHO LOST THEIR LIVES IN UTTAR KASI (UTTARA KHAND) DUE TO HEAVY FLOODS"".REQUESTED OUR UTTARAKHAND UNIT MEMBERS OF GIC EMPLOYEES UNION TO EXTEND HELPING HAND IN PROVIDING DRINKING WATER, FOOD, SHELTER, NECESSARY TRANSPORTATION TO THE STRANDED PILGRIMS"".."".Wage Revision Process:–GIPSA Chairman confirmed that Wage revision process has started and Associations will be invited shortly for first round of discussions"".."" UPON TAKING UP THE ISSUE WITH GIPSA BY NFGIE VERY STONGLY ALONG WITH OTHER UNIONS/ASSOCIATIONS IN GENL. INSC. INDUTRY, THE IMPRLEMENTATION OF GROUP MEDICLAIM W.E.F. 01-07-2013 HAS BEEN DIFFERED BY THREE(3) MONTHS AS ANNOUNCED BY Mr.PARSHAD,CEO, GIPSA"".. ""AICPI(BASE YEAR 2001=100)RAISED TO 226 POINTS FOR APRIL,2013, AGAINST 224 POINTS IN MARCH, 2013""..""FLASH".."INTRODUCTION OF 'IN-SITU' PROMOTIONS IN ALL CLASSES" -- DEMANDED BY NFGIE"- UNDERSTAND THAT THE MATTER IS UNDER ACTIVE CONSIDERATION BY 'GIPSA' MANAGEMENT BY WORKING OUT MODALITIES ""....'NEW INDIA CROSSED PREMIUM OF 10038 CRORES MILE STONE IN DOMESTIC FRONT & 12500 CRORES GLOBALLY FOR 2012-13 F.Y. ON THIS HISTORIC OCCASION GICEU-AP & NFGIE SALUTES TO ALL FELLOW NEW INDIANS & AGENTS FRATERNITY, WHO CONTRIBUTED FOR THIS MIGHT - FRIENDS LET US MARCH TOWARD Rs.14,500 CRORES FOR 2013-14""...

""The retirement age for bank employees should be increased to 65 for better utilisation of the services of seniors, said INTUC national president G. Sanjeeva Reddy"".."" The country's largest non-life company — New India Assurance — will soon seek the regulator's approval to sell a combined policy that covers personal accident, household and health insurance.""...."Retirement fund body Employees Provident Fund Organisation (EPFO) on Monday(14TH JAN.,2014) announced a rise in interest rate on provident fund (PF) deposits to 8.75 per cent for 2013-14, to benefit 50 million subscribers""....."" NEW INDIA EARNS Rs.42 CRORE PREMIUM BY PROVIDING COVER TO SATELLITE LAUNCHES BY I.S.R.O. FROM KOUROU FRENCH GUIANA SPACE CENTRE""..."" IN 1947 1 US $ = INR 01.00; At 2008 August month 1 US$=INR39.40; At2013August now 1US$=INR 63.50; Estimated 1$ by end of the year 2013=INR 70.00"".... "" SERVICE IS THE GATE WAY TO GROWTH "".."23rd JULY IS NEW INDIA'S FOUNDATION DAY(23rd JULY,1919)""..""WHETHER CLIENT IS BIG OR SMALL SERVE TO ALL""..""POOR PEOPLE IN PONDICHERRY TO GET CASHLESS MEDICLAIM - A NEW INITIATIVE BY "NEW INDIA" IN 2013""

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Wednesday, February 26, 2014

Centre may raise age of retirement by 2 years to 62

The Congress-led United Progressive Alliance (UPA) is likely to take a major decision of increasing the retirement age of Central government employees by two years, from 60 to 62 this week. This would be applicable from March 1.
It would be one of the major decisions to be taken by the Cabinet before the model code of conduct for the general elections kicks in. In the Thursday meeting, the Cabinet is also likely to recommend dates for the elections. These could be notified on March 5.
"The government may clear the increase in age this week," said a source. It is likely to be a part of the terms of reference of the Seventh Pay Commission, expected to file its report in 2017. The panel, however, can recommend an interim relief through the move.
The increase in retirement age would be happening after 15 years. In 1998, it was increased to 60 from 58 following implementation of the Fifth Pay Commission. Experts said it would defer payment of retirement benefits. However, sources confirmed this would not be applicable for employees retiring on February 28.
The cabinet is expected to discuss a proposal to increase the dearness allowance by 10 per cent from January 1, to make it 100 per cent and merge 50 per cent of the increased dearness allowance with basic pay. The terms and conditions of the panel include a proposal to merge 50 per cent of dearness allowance with basic pay.
The move to increase the retirement age may pressure the states to follow. The department of personnel and training was working on the proposal for quite some time. The Budget estimate on the pension outgo for 2014-15 is Rs 80,982 crore, 0.6 per cent of the gross domestic product.

Thursday, February 13, 2014

RAISE AGE OF RETIREMENT TO " 65 " years

A parliamentary panel has urged the Centre to raise the retirement age to 65 years, noting that growing lifespan was adding to the need for "productive ageing".
The recommendation for increase in retirement age comes with a reminder that senior citizens would form 12.4% of the total population in 2026 from 7.5% in 2001.
The committee feels that with the increase in life expectancy and relatively better state of health of people, the government needs to look at continuity of employment up to 65 years," said the report of standing committee of Parliament on social justice and empowerment tabled on Friday (7th Feb.,2014).
It also recommended that government look at greater post-retirement opportunities for senior citizens and create greater financial support for the elderly by hiking the old age pension to Rs 1,000 per month from the present Rs 200 for those above 60 years and Rs 500 for those above 80 years.
While suggesting immediate redressal for the ageing population, the panel sought to train the government's focus on the 60-plus group by pointing out that its growing numbers would be a serious challenge in health and social care.  Specifically, it underlined that as per population projections, the 80-plus bloc, the most-vulnerable group, would see a sharper rise in numbers.
The urgency of parliamentarians towards senior citizens comes amid growing global realization that increasing lifespan is creating a new demographic bloc requiring state intervention.
Seeking government attention, the committee noted that senior citizens comprised 7.5% of the total population in 2001 but their share is likely to increase to 12.4% in 2026. Importantly, UN projections say while India's population will rise by 55% by 2050, that of 60-plus would increase by 326% and that of 80-plus would go up by 700%.
Given the rising challenge, the panel headed by Hemanand Biswal found the government response inadequate, noting that "issue of rapid population ageing in the country has not received due attention of the government and the community at large".
The panel said special focus should be on the octogenarian bloc. "This age group is the most vulnerable and runs the risk of getting dementia, Alzheimer's disease, Parkinson disease, depression in their older years," it said, and asked the Centre to constitute an expert group of relevant government departments to devise specialized healthcare programme for them.

"NEW INDIA ASSURANCE" Will soon Offers 3-in-1 cover for Accident, Home, Health



"CORPORATE NEWS"

The country's largest non-life company — New India Assurance — will soon seek the regulator's approval to sell a combined policy that covers personal accident, household and health insurance. The combined feature is expected to increase retail penetration of personal accident and household insurance on the back of growing sales of health insurance.

Although personal accident policies have been around for decades and are much cheaper than term insurance covers sold by life insurers, sales have not picked up because agents do not find it economical to sell these policies. For instance, under New India's standalone personal accident cover, one can be insured for Rs 4 lakh for as low as Rs 125.

Same is the case with householders' cover — a policy that protects both the house and its contents. The innovation that New India plans to offer is a floating sum insured for household items. Thus, the insured would be able to claim for up to a particular value rather than declare and insure each and every item in the house. "We will file the combined policy with the regulator shortly," said G Srinivasan, CMD, New India
Assurance.


The move to push retail sales comes at a time when growth in corporate insurance is stagnating. Growth in fire insurance has slowed to 7% despite robust growth in motor and health insurance. "Retail business has grown faster than corporate. As a result, the share of retail has grown by two to three percentage points to 65%," said Srinivasan. He added that, going by New India's numbers, the ratio of claims to premium was lower in retail than in corporate business.
Srinivasan said the company will add 20,000 agents during the current 2013-14 financial year. He said the company has recorded a net profit of Rs 701 crore in the first nine months, which was a rise of 36% over the corresponding period last year. The company's domestic premium has risen 16% to Rs 8,337 crore while global premium grew 15% to Rs 10,255 crore.
.....................................................


AN URGENT APPEAL TO SAVE LIFE OF FELLOW NEW INDIAN- Mr. Ananda Krishnan, Assistant



TO ALL MEMBERS


Dear Friends,


AN  URGENT APPEAL



Mr.Ananda Krishnan.K.M. (54 years) Assistant (S.R.No.19410) Kannur Divisional Office under Ernakulam R.O. has been unwell for the last two years and was on leave on health grounds.  Mr. Ananda krishnan, who is having an exemplary work record, has been suffering from a kind of Motor Neuron Disease, diagnosed as Amyotropic lateral sclerosis since a couple of years.  Proximal as well as distal muscles of upper and lower limbs have become weakend, resulting in partial stoppage of body movements.  Besides, he also developed Type 2 respiratory failure and underwent tracheostomy (i.e a hole was made on respiratory canal to connect to a BiPAP-portable ventilator). Now he depends on intermittent use of a portable ventilator, a BiPAP, to be stable.  He was admitted in AIMS for 3 weeks and then was referred to a local hospital for palliative care, as there is no permanent cure for the disease. Food and medicines are now injected through a tube directly connected to intestine.
Now it has become impossible for Mr.Ananda Krishnan to do any work on his own. He has exhausted of all his financial resources as he has incurred huge amount for the treatment of disease at various hospitals.  His wife is unemployed and his two daughters are studying for Post graduation and Plus Two levels,   The sole breadwinner’s illness has effected the education of children.


Hence, we request all New Indians to help Mr.Ananda krishanan at his critical stage in his life.  This is the time to render a helping hand to one of the fellow New Indian in distress.


A Committee has been formed at Kannur DO for this purpose and your valuable contributions may be forwarded to Convenor  Kannur DO or directly to Anandakrishnan’s Bank Account No. 1631024392 Central Bank of India, Kannur Branch, IFS Code CBIN 0280972 and mail the details to nia.760800@newindia.co.in




T.K.Sathishkumar
Working President
NFGIE
....................................... 

... EDITOR

JOINT ACTION ON STAFF GROUP MEDICLAIM POLICY-2014


GENERAL CIRCULAR ISSUED FOR READ & CIRCULATION BY "NFGIE"

12.02.2014

Friends,



You are aware that National Federation of General Insurance Employees has participated in all demonstration & Dharna held in  all over India as a constituent of Joint Forum.  The Dharna on 22 January, 2014 before National Insurance Co Ltd Head Office at Middleton Street Kolkata was a massive success. Active participation of  officers and employees in the similar  Demonstration and Dharna  held at  all Head Offices and Regional Offices of GIPSA companies also made significant impact on the Management. The fight against GIPSA  Management’s arbitrary unilateral imposition of GMC has evolved serious repercussion amongst all section of employees and officers and  ushered a path of  forming a joint action Forum in the name of JOINT FORUM OF UNION/ASSOCIATION OF  OFFICERS AND EMPLOYEES OF  PSGI Companies. All leading Association and Organisation  except AIIEA joined hands to fight against the  evil design of Management. 


This J F U A of officers and employees  have submitted a Memorandum  to Mr Rajiv Takru, Secretary, D.F.S, Ministry of Finance, Govt of India  on 4th February 2014 demanding   many burning issues confronting the interest of the  Officers and Employees of General Insurance Industry.  Some of them are as follows :


1.      Another Option for Pension 
2.      Improvement in the Group Mediclaim Policy 
3.      Amendment of the Promotion Policy for Officers & Employees
4.     Compassionate Appointment 
5.      Early Wage Revision 
6.      Amendment of Transfer & Mobility Policy 
7.      Early Notification of NPS 
8.      Recognition of Association/Unions 
9.      Payment of PLLI to all and amendment in PLIS 
10.  Comprehensive Human Resource Policy

Friends, this Joint  Forum  is actively pursuing  the cause of  officers  and employees interest  with the officials of the Finance ministry at  highest level  specially for  improvement in the Group Mediclaim Policy and  Deletion of TPA from GMC.  It has been assured  by the Ministry that the  whole scheme of the GMC will be reviewed after sometime and Ministry will take up the issue with GIPSA to make suitable amendment.


With greetings,
Sd/- XX XX XX,
SUJIT BAGCHI
GENERAL SECRETARY
N.F.G.I.E.

Friday, January 17, 2014

WAGE REVISION FOR GENERAL INSURANCE EMPLOYEES

The Principal Office bearers of
Check off qualified Unions / Associations of Clas I, Class II & Class III / IV

Dear Sir,
 
We are sending attached herewith a soft copy of letter dated 15.01.2014from CE, GIPSA on the subject which is self-explanatory. A hard copy of the same is sent by convetional mode.
 
It has been decided to convene a meeting of the representatives of check off qualified Unions / Associations with CMDs / GMs (P) of the companies, for initiating exploratory discussions on Wage Revision.  The details of the date, time and venue of the meeting are given below:-

Date
on 29th January, 2014 (Wednesday)
Time
At 10.00 am
Venue
At Hotel Intercontinental,
No. 135, Marine Drive,
Mumbai – 400 020
Phone - + 91 22 56399999
Fax     - + 91 22 56399600

Kindly refer to the contents of the letter for other details.
 
Thanks and Regards, 
 
 
SPR Lolla
Sr. Vice President, GIPSA
Mobile # 8800447795