PENSION SCHEME FOR UPGRADED PTS to FTS - LETTER ADDRESSED TO CMD/NEW INDIA

Date : 7^th Aug. 2013

To

MR. G.SRINIVASAN

CHAIRMAN-CUM-MANAGING DIRECTOR

THE NEW INDIA ASSURANCE COMPANY LIMITED

87, M.G.ROAD

FORT

MUMBAI – 400001

Dear Sir,

Hope you will recall that during several meetings we had with you after your taking over the charge, we requested that all the PTS upgraded to FTS in the year 2012 & 2013 be governed by the old pension scheme 1995 and be kept out of the purview of the New Pension scheme.  We are of the view that this upgraded FTS were not new employees and they should not be treated as new recruits. Even vide circular CORP:HRM:PROM /CL.III-CELL/SNN 2013 dated. 03/05/2013 these FTS have been allowed corresponding pro-rata weightage of past service as PTS in the company for Seniority / Eligibility in Promotion .  Moreover   these FTS have been allowed gratuity for their service as  PTS . 

Now we have came across an Email instruction issued EWS Deptt. on 1st August,2013  whereby all upgraded FTS in the year 2012 & 2013 have been asked to fill up forms for New Pension scheme immediately so as to reach Head Office within 13^th August,2013 otherwise salary will not be generated for the month of August, 2013 for non-compliance of the same . 

We have already written a letter to GMP on 6^th Aug.2013 and now seek your immediate intervention to withdraw the said instructions issued by EWS to all R.O’s . 

Awaiting your favourable  response .

Sd/ xx xx xx,

SUJIT BAGCHI

GENERALA SECRETARY