Insurance staff to join nationwide strike on Sept. 2

The All-India Insurance Employees Association has decided to go ahead with its plan for joining the proposed nationwide strike on September 2.

Despite the fact that the government was informed of the strike decision many months back, it has remained unresponsive and refused to initiate any action to redress the grievances of the workers, the Association said.

Asserting that the reckless drive of the government towards privatisation of the public sector has already reached the doors of the insurance industry, it pointed to the government’s decision to divest shares of public sector general insurance companies and GIC–RI in the current financial year itself.

 There is absolutely no justification to privatise the hugely profitable PSU …undermining the social purpose and social commitment for which the public sector is created, it added.

The demand for another pension option for employees has been pending for years, it said.

The Life Insurance Corporation of India and General Insurers’ (public sector) Association of India (GIPSA) had sent more than once their recommendations to consider offering employees another pension option.

The LIC and GIPSA have said that considering the number of employees (around 13,000) who did not opt for 1995 pension scheme, the cost involved is not very high and the institutions are capable of absorbing the additional cost.

Why then is the government not accepting the recommendation of LIC and GIPSA?” it asked.

Curated from Insurance staff to join nationwide strike on Sept. 2

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