letter to gurudas dasgupta on Pension issue - oicoa

THE ORIENTAL INSURANCE COMPANY OFFICERS ASSOCIATION
(Central Committee)
Regn. No. 2916/CNI
(AFFILIATED TO THE NATIONAL CONFEDERATION OF GENERAL INSURANCE OFFICERS' ASSOCIATIONS)
OICOA/CC/GS/2010/L/037
29 th July'2010
Shri Gurudas Dasgupta,
Honourable Member of Parliament,
New Delhi 110001
Respected Sir,
Sub: Request for your kind intervention in the matter of Another Option for Pension for
Officers & employees of Public sec<strong>to</strong>r General Insurance Companies
We would like <strong>to</strong> introduce ourselves as a responsible and only checked off association of
Class-1 officers in “The Oriental Insurance Company Limited” continuously since beginning. We
are one of the four affiliate unit of The National Confederation of General Insurance
Officers Associations. All the four affiliate units of NCGIOA are the only checked Off
Officers Associations in the four PSU General Insurance Companies. Undersigned represents
OICOA as the General Secretary & NCGIOA as Additional Secretary General.
Sir we are compelled <strong>to</strong> write <strong>to</strong> you on the above issue of Another Option for Pension which is
lying pending with GIPSA Management for quite long. Sir, Employees of non-life PSU
companies have been asking for another option for Pension for the last 2 years but
Management of these companies is not in a mood <strong>to</strong> listen <strong>to</strong> their genuine demands. They
always tell us that though they agree <strong>to</strong> our genuine demand but our Companies may not be
able <strong>to</strong> absorb the load . Sir, unless we escalated the issue of another Option for Pension in
PSU Insurance Industry in Oc<strong>to</strong>ber'2009, GIPSA even did not bothered <strong>to</strong> discuss the matter
with the Associations. It is only after our escalating the matter that GIPSA formally
discussed with us about the nitty gritties of another Option of Pension in PSU GI Companies
during 5 th round. Sir, when the Pension is offered <strong>to</strong> Banking sec<strong>to</strong>r and even for Un-organised
Sec<strong>to</strong>r, GIPSA is not interested <strong>to</strong> extend the same scheme of 1995 <strong>to</strong> the remaining 15,000
employees who could not opt in the initial stage. Sir, in LIC already more than 90% of the
Employees are having the Pension but in Non-Life Companies only 75% are having the Pension
Option. In the larger interest of the Social Security another Option for Pension may kindly be
offered <strong>to</strong> the remaining 25% Employees. When All the four General Insurance Companies
have already generated a net Profit of about Rs. 1500 Crores for the year 2009-10, an amount
of about Rs. 300-400 Crores investment in Human Resources for the Social Security cause
ADD R E S S: web www.oicoa.net e-mail: viveksaxena@orientalinsurance.co.in ; wewakesaxena@gmail.com
Office: C/O IT Dept., 2 nd Floor, Oriental House, The Oriental Insurance Co. Ltd., Head Office, New Delhi – 110002
Cell - 09871278625; LL 011-43659216 (Off) ; FAX – 23269087 (C/O DGM – IT)
Association Office: 2 nd Floor, Mittal Building, 4/12, Asaf Ali Road, New Delhi - 110002 Phone: 011-23268595

THE ORIENTAL INSURANCE COMPANY OFFICERS ASSOCIATION
(Central Committee)
Regn. No. 2916/CNI
(AFFILIATED TO THE NATIONAL CONFEDERATION OF GENERAL INSURANCE OFFICERS' ASSOCIATIONS)
should not be an issue. We have already consulted an Actuary & the figures presented are
based on Acturial calculations. Sir, your good self has always s<strong>to</strong>od for Social Security of not
only for the employees of Govt./ PSU companies but also for un-organised sec<strong>to</strong>r and it has
been part of your Election manifes<strong>to</strong> also.
We are really perturbed with the attitude of GIPSA Management on the issue of Pension. We
are fortunate <strong>to</strong> have a Member of Parliament of your stature and would request your kind
intervention in this matter keeping in view the above mentioned facts <strong>to</strong> ensure another
Option for Pension for PSU insurance employees is offered by GIPSA Management.
Thanking you,
Yours faithfully,
(VIVEK SAXENA)
GENERAL SECRETARY
ADD R E S S: web www.oicoa.net e-mail: viveksaxena@orientalinsurance.co.in ; wewakesaxena@gmail.com
Office: C/O IT Dept., 2 nd Floor, Oriental House, The Oriental Insurance Co. Ltd., Head Office, New Delhi – 110002
Cell - 09871278625; LL 011-43659216 (Off) ; FAX – 23269087 (C/O DGM – IT)
Association Office: 2 nd Floor, Mittal Building, 4/12, Asaf Ali Road, New Delhi - 110002 Phone: 011-23268595