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Friday, Jan 09, 2004

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Voluntary retirement

There is no connection between the proposed check-off system and the special voluntary retirement scheme in PSU general insurance companies.

The check-off system is a referendum to ascertain the strength of various unions/associations in the public sector general insurance companies and give "recognition" to those that get more than 20 per cent of representation among the officers/staff in each company.

In August 2002 itself the General Insurer's Public Sector Association (GIPSA) had decided to implement the same, but was deferred in the last minute. Accordingly, all the four companies have decided to hold the exercise on February 10. Another fact that needs to be clarified is the exclusion of Class 2 (field staff) employees from the purview of the VRS.

It is true that the scheme gazetted by the Centre is applicable to Class 1 officers and Class 3, 4 staff of the PSU general insurance companies. The reason is that the Government has already notified its scheme of voluntary retirement a year back, that is, last January.

The Government introduced the VRS first to the development officers, as the brokers and corporate agents have started functioning as intermediaries.

P. P. Mohanan


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