THE All India Bank Employees Association (AIBEA) has opposed the unjustified delay and denial of legitimate wage revision for employees and officers of general insurance sector. With the finalisation and signing of wage revision settlement for bank employees and officers in November, 2020, broadly on this basis, wage revision has been extended in RBI, Regional Rural Banks, LIC, etc.

“But it is very unfortunate that the wage revision for employees and officers of general insurance sector which is due from August, 2017 is being delayed and unjustifiably denied,” AIBEA said.

When the next wage revision is due for them in August, 2022, it is regrettable that even the earlier wage revision due from August, 2017 has not been finalised, said the association.

It is learnt that a few days ago, in a farcical manner, the unions in general insurance companies were called for discussions and offered wage revision of either 7 per cent increase from prospective date or 2 per cent increase as arrears from August, 2017 and 5 per cent increase from prospective date.

The Joint Forum of Trade Unions (JFTU) and Associations in general insurance companies have rejected this provocative offer.

It is a matter of concern that even improvements like enhanced family pension, contribution to NPS at 14 per cent, etc., which have been extended to bank employees have not been extended to them.

Like public sector banks, public sector general insurance companies have been doing their best to serve the common people with various pro-people policies and schemes. General insurance employees and officers have been doing their best to serve the people and implement all Government schemes, said the association adding that it is a matter of utter dismay that wage revision which is pending for the last 59 months is still being dragged with a view to deprive the legitimate wage revision to the employees.

“Naturally, employees and officers have been forced to the path of agitation and strikes. While urging upon the Government to intervene and expedite wage revision in GIC, we extend our full support to the struggle by the JFTU in their justified demands,” AIBEA stated in a press release.