Bank of India Pensioners And Retirees Association,

South Zone (Reg.No.115/2017)

C/o. Bank of India Officers Association South Zone
5th Floor, 17/30, Errabalu Street, Chennai 600 001.
Email: boiparasz@gmail.com
Ref: 2017/17 Date: 23.07.2017

Dear Comrades,

MEDICAL INSURANCE POLICY TOP UP FACILITY

You must have come across several whats app / email messages from
someRetirees Organisation that they have negotiated/ finalised with New India
Assurance company for topup policy for the Bank Retirees providing additional
Medical Insurance cove of Rs.3 lakhs for award staff and Rs 4 lakhs for Officers on
payment of additional premium of Rs. 2925cases.of award staff and Rs 3225 in case
of officers, over and above the medical insurance cover provided

by the United India Insurance Company. The matter of providing additional

medical insurance cover to the retirees has been under active follow up from our
Organisation and we are happy to inform you that United India Insurance Company
the lead Insurance Company - which has already been providing medical insurance to
the Bank retirees under Xth Bi-partite settlement has itself come out with a better top
up scheme. They have offered higher coverquantum ofRs. 4.00 lakhs in case of
award staff and Rs. 5.00 lakhs in case of officers, without any increase in the relative
insurance premium amount quoted by New India Insurance company
. We reproduce below for your information a letter addressed by M/s.
ManeckDastur the authorised Insurance Broker- conveying that United India
Insurance Company has agreed to give such super top up cover for Bank retirees
commencing from the policy year 2017-2018.

Quote :

On Fri, 21 Jul 2017 at 3:44 p.m., ManeckDastur

Dear Union Leaders,

We realised the need for an additional healthcare cover for the

Retirees, looking at their Incurred Claim Ratios. Under the
Retirees Policies the Incurred Claim Ratios are126% for the
Retirees Policy without Domiciliary cover and 201% for Retirees
with Domiciliary Cover as of 16th July 2017.

United India in spite of these losses have agreed to give a very

competitive Super Top Up cover for the Retirees, which we are
sharing with you.
We request you to please request all the Retirees to take this
Super Top Up cover, as unless this policy is taken up by the
majority it would be difficult for United India to break even on
the claims. This is a very need based policy, with a very
competitive premium.

United India Insurance Co. Ltd., has confirmed to issue a Super

Top Up Policy for the Retirees of the Indian Banks Association as
per the terms and conditions of the IBA policy for Retirees
without the Domiciliary cover.

All the Retirees could take this policy. The ones who are covered
under the Retiree Policy with Domiciliary cover and the ones
that are covered under the Retiree Policy without the Domiciliary
cover.

The coverage under this policy would be without the Domiciliary

cover. For clarity on the Super Top Up Policy, we give below
the details for the same.

1. This would be a Super Top Up Policy which will cover all the
terms and conditions as per theIBA Retiree Policy without the
Domiciliary Cover.

2. This Super Top Up Policy has two Sum Insureds as per the IBA
Retirees Policy without the Domiciliary cover and the requisite
Premium is mentioned below for the same.

Threshold i.e. the Premium

Sum Insured under
Sum Insureds of the two the main Policy Excluding GST
New Super Top Up after which the
Policies Super Top Up
Policy will trigger
Rs. Rs. Rs.
1 4,00,000 3,00,000 2,975
2 5,00,000 4,00,000 3,225

Under this Policy if the sanctioned claim amount crosses the

Sum Insured under the main policy, the balance
amount is payable from this Super Top Up Policy. Even after
the total Sum Insured under the main policy is exhausted and
there is a further claim, even this claim will be paid through the
Super Top Up Policy up to its Sum Insured.

The Policy will commence from 1st November 2017 to coincide

with the Renewal of the main Policy.

The Premium for this Super Top Up policy should be paid with
the payment of the premium for the main policy. The premium of
this policy may also be paid later, but should preferably come in
one lot from the Retirees through their Bank, as it is done with
the main Policy. The coverage for the same will commence from
the date of receipt of premium without the benefit of any pro-
rata premium. The renewal date of this policy will remain the
same i.e. 1st November 2018.

The Third Party Administrators would be the same as the ones

dealing with the main policy.

UNQUOTE

We trust Bank retirees will give due consideration to the better

benefits agreed by the United Insurance Company and decide
appropriately about availing top up cover.

RETIRED EMPLOYEESMEDICAL ASSISTANC SCHEME ( REMAS )

The meeting of the Central welfare Committee was held on 29th

June,2017 between the representatives of the management of our Bank and
those of the Federations of Staff Unions and Officers Associations when the
status of the REMAS corpus was reviewed. During the last two years, due to
no profit earning for the Bank, no allocation of Funds to the REMAS Trustwas
possible. Notwithstanding this, it was decided to continue REMAS Scheme and
to explore the possibility of increase in the membership subscription and other
measures which will be finalized soon.

NEGOTIATIONS WITH IBA ON WAGE REVISION.

Meeting between the representatives of the constituent Unions/

officers Associations and IBA was held on 20-07-2017.While it was agreed
that wage revision for Bank employee and officers shall be w.e.f 01-11- 2017, a
sub-committee is set up to discuss non- financial issues. Another meeting is
also scheduled to be held between them soon to follow up the issues of
retirees referred in the Record note dated 25-05-2015. Our Confederation is in
touch with UFBU and its 9 constituent Unions and has provided to them the
necessary details / facts /figures on these issues.

Yours Comradely,

(D.Narayanasamy)
GENERAL SECRETARY
.