GIPSA to hold wage talk with PSGIC leaders today

Mumbai: Next round of wage negotiation talk will be held by the apex body of Public-sector General Insurance Companies (PSGICs) with the trade union leaders on August 4 in New Delhi.

In the letter, addressed to all the checked-off qualified unions/associations of class I, class II and class III / IV employees of PSGICs (New India, Oriental, United and National) and GIC Re, the chief executive of GIPSA, RR Singh said that further to the VC meeting held on June 22, it has been decided to hold the next round of discussion on the above matter in a meeting of CMDs & GMs of member companies and GIC-Re with the representatives of check-off qualified employees' unions / associations of class I, class II & class III / IV on August 04 at 10:30 a.m. at New Delhi /NCR Delhi.

"You are requested to nominate two representatives from your Union / Association for the meeting. Officers-in-charge of operating offices, as per Check-off norms, shall not be nominated to participate in the meeting," the letter reads.

The wage revision talk, which was held by GIPSA, an umbrella body of all the public sector general insurance companies (PSGICs), with the leaders of all the checked-off or recognized associations which was held on June 22 in a virtual mode, remained inconclusive.

The Associations want wage hike falling on the lines with that of LIC and ECGC which was at 15 per cent. Moreover, they are also demanding increase in company's contribution for PF for the NPS employees to 14 per cent.

Talking to Bizz Buzz, Trilok Singh, general secretary, GIEAIA and convener JFTU Northern Zone, said: "On the one hand, the wage revision of 50,000 odd employees of PSGICs was pending for five years and the annual package of CMDs of PSGICs are around Rs 35 lakh only, whereas on the other, the government wants to appoint a person a CTO that to for an annual package of Rs 1 crore or more."

The trade union leaders have already refused the GIPSA's offer, which was much lower. Rather, they demanded another offline meeting with fresh offer of minimum 15 per cent hike at par with LIC, he added.

The associations have referred to the records of previous meeting dated 4th April 2019 called by GIPSA at Mumbai where the then GIPSA chairman, Girija Kumar and all other CMDs categorically had assured that wage revision effective from August 01, 2017, will be even better than the PSGIC counterparts, mainly LIC.

The meeting ended with GIPSA Chairman and NIC CMD Suchita Gupta's note that no sooner the all associations come with their proposal, the GIPSA management will go to the Ministry for further discussions.