Vijayawada: Retired bank officers demand subsidised health insurance

Vijayawada: National Confederation of Bank Employees president R Balaji took part in annual general council meeting of the Association of Retired IOB’s Employees (ARISE), affiliated to the largest federation of retirees’ organisations in the banking industry organised on Monday in Chennai. As many as 1300 delegates from all over India were present.

Speaking on the occasion, Balaji assured that pending issues concerning retirees were recorded in the last meeting on March 8 as residual issues with a timeframe for their resolution and this will be ensured, according to joint general secretary of ARISE KBG Tilak who released a statement here on Tuesday. The main issues, implementing pension up dation provided in Bank Employees Pension Regulation No 35 (1), Special allowance to be reckoned for terminal benefits as held by the Supreme Court in similar other cases, Health insurance cover to be subsidised by banks as most of the diseases are due to work hazards endured while in service and hence the cost of these deferred diseases should be borne by banks.

For the health insurance, GST cannot be levied on premium paid because unlike other services, premium varies depending on age in health insurance for the very same benefit. The Government should suitably reduce GST or levy GST on cover amount and not on premium, they demanded.

AIBPARC General Secretary Suprita Sarkar and President KV Acharya spoke at length on issues and achievements and the tasks ahead. Indian Overseas Bank MD and CEO Ajay Kumar Srivastava assured the retired officers that he was willing to do whatever is possible at bank level to IOB retirees.