PSGICs’ Staff Demand For Wage Revision Settlement

Mumbai: The trade union leaders of state-run general insurers have demanded settlement of wage revision and other demands before March 21 (CLC Meeting) and the issue of time-bound office opening directive.

The insurance sector regulator, IRDAI has advised insurers to keep offices open on March 29, 20 and 31 and the PSGICs (public sector general insurance companies) have started to issue circulars in haste without discussing the issues with the unions, and associations and welfare associations which the trade union leaders have strongly opposed and criticized.

Talking to Bizz Buzz, Trilok Singh, General Secretary of, the General Insurance Employees' All India Association (GIEAIA) says, "While we understand the importance of uninterrupted service to policyholders, we strongly believe that our long-pending wage revision and other legitimate demands must be settled before the CLC Meeting on March 21 as the employees are demotivated and are in anguish due to the inordinate delay in the settlement of wage revision, uniform family pension at the @of 30 per cent and 14 per cent Employer contribution in NPS."

Further, it is a grave violation on the part of PSGICs and the IRDAI to direct offices to remain open on 31st March, which is a gazetted holiday (Eid Al-Fitr), he said.

Furthermore, PSGICs must settle the issue of compensatory leave and pending overtime for the previous year.

"If our demands remain unmet, we will have no option but to proceed with our planned nationwide strike on March 27, followed by non-cooperation and further strikes/dharnas as discussed," said Darshan Kumar Wadhwa, Secretary General, GIEAIA (Class 1).