Outcome of the meeting of Staff Welfare Fund - Union Bank of India

Friends,

Outcome of the meeting of Staff Welfare Fund

Following is the message from Com.N.Shankar, General Secretary, All India Union Bank Employees' Association. 

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Pension , Gratuity  trust meetings, staff welfare committee meeting and DRF meeting held  at Mumbai  decided as  under

1)The  Ex-Gratia payable is increased from Rs 3.50 lacs to Rs 4.25 lacs.
2)The staff welfare measures are improved as below,:
3)Reimbursement of school fees is increased from Rs 1850  to 2250.
4)Reimbursement of college fees increased from present Rs 3000 to Rs 3250.
5) Honorarium to students seeking first rank is increased from Rs 2500 to 3000.
6)Scholarship for 10+2 higher studies from Rs 250 to 375 per month and for college studies from Rs 400 to 500 per month and Rs 600 to 700 per month in case of ward staying in hostel.
7) Health check up scheme is improved to include employees above age of 35 years from present 40/ 45 years  with increased cost of 500 per year on all categories.
8)Additional holiday homes in new 6 centers are decided with cost of contribution from employees towards  room rent increased by Rs 50.
9) For retirees the UBIREMAS coverage is increased from Rs 1.25,lac to Rs 1.50 lac. Our detail  circular follows. 

N. Shankar 

GS AIUBEA.

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So far as retirees are concerned, the life time limit of 'Union Bank of India Retired Employees' Medical Assistance Scheme' (UBIREMAS) is increased from Rs.1,25,000/- to Rs.1,50,000/-.

Reactions of the retired employees are -

1. No authenticated figures of the welfare fund utilization under UBIREMAS are made available to us for last two years. However, we are quite sure that after introduction of the Medical Insurance Scheme for last more than a year, most of the claims are placed by the retirees to the Insurance Company and hence payments from UBIREMAS must be very less.
2. Therefore, instead of increasing limit of UBIREMAS, it would have been better if the Welfare Committee would have decided to grant subsidy in our medical insurance premium, as it is being done by Bank of Baroda and several other Banks for last two years. Atleast the premium of widows, retired sub staff, pre-'86 retirees is unbearable for them and hence many of them have discontinued from the medical insurance coverage. Therefore, it was necessary to reimburse premium of these categories of retirees from the Welfare Fund. 

Yours sincerely,

B.G.Raithatha,

General Secretary

RB Kishore

VP,AIRIEF,

ED(Retd),LIC

Life Member,Probus Club

044-2815 5810 & 098 4034 0591

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