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PSU insurance unions reject wage revision offer
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IANS | 23 Jun, 2022
The long pending wage revision talks between the General Insurers'
(Public Sector) Association of India (GIPSA) and the various employee
unions have begun in a bad taste.
The talks were held on Wednesday.
The
GIPSA, the lobby body for the four government owned multiline non-life
insurers and the General Insurance Corporation of India (GIC Re) made
their offer that was expected to be rejected and the unions rejected the
same.
The wage revision for the public sector general insurance employees was due from August 1, 2017.
"The
GIPSA offered seven per cent hike on the wage bill (without any wage
arrears from 2017) or five per cent wage hike with two per cent of
arrears," Sanjay Jha, Secretary Standing committee (General Insurance,
All India Insurance Employees Association-AIIEA), told IANS.
Jha said the AIIEA and other unions have rejected the 'disappointing' offer.
According
to him, the Joint Forum of Trade Unions and Associations will hold
demonstrations during the lunch recess demanding a respectable wage
offer maintaining insurance sector parity.
"The financial
position of the companies in 2017 was good. There is no reason for the
management to make such an offer. Perhaps it is done to delay the wage
revision further," said Vijay Sharma, President, National Confederation
of General Insurance Officers Association (CONFED) and All India
President of New India Assurance Officers Association.
Sharma
said the employees expect at least a 15 per cent hike offer, similar to
what was given to the employees of Life Insurance Corporation of India.
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