Shri R.

Koteeswaran
CEO & Managing Director
Indian Overseas Bank
Central office
Chennai 600 002.
Dear sir
Suggestion 1
REIMBURSEMENT OF HOSPITALIZATION EXPENSES TO RETIRED
EMPLOYEES
"LET HEALTH OF OUR HUMAN CAPITAL BE THE PRIME CONCERN"
After a lifetime of working, raising families, and contributing to the success of
this nation in countless other ways, senior citizens deserve to retire with dignity
Charlie Gonzalez
During the period of reforms we had witnessed a sad spectacle of reduction in
allocation of health by the Government. From the first five year plan when public
health comprised of 3.3 % of the GDP, we find that it has trickled down in the VIII
plan to 1 % of the GDP. But again the tragedy is that out of this total expenditure
on health, the government spends a mere 22 % while 78 % has to be borne by
patients themselves through private practice. With the government cutting its
already meager expenditure on health, there have been massive resurgence on most
of the diseases, for the disease control expenditure is naturally reduced. Such a
policy has made the drug companies, ecstatic and they reap a bonanza in sales.
But on the other side we find that 5,500 people in our country die each day and 230
each hour and 4 persons every minute. In every case the severe illness preceding
death results in massive expenditure on medicines, doctors fees, hospital charges
which completely devastate families, finishes their savings and most often pushes
them in severe debts. This is not only traumatic but also agonising for the
survivors and those who are fortunate to survive after treatment, remark,
"operation is successful but I am broke after that", "the diagnosis is okay but it has
come with a heavy bill". Desire, Disease, Death and Debt are the four deadly Ds
that does not spare anyone. Further unhealthy practices in the medical field has
increased expenditure on our health.

In genuine appreciation of this background we request the bank to implement cl20

of the bipartite settlement for reimbursement of hospitalization expenses with the
modification to our REMAS scheme suggested below .

One of the path breaking achievement is in respect of reimbursement of

hospitalization expenses in the 10 bipartite under the clause given below

cl. 20. Hospitalisation 10th Bipartite Settlement

In substitution of Clause 20 of the Bipartite Settlement dated 27th April 2010,
the reimbursement of hospital expenses shall be as per the Medical Insurance
Scheme detailed in Schedule IV to this Settlement

IN ANNEXURE 4 , APPENDIX 1 IT IS STATED IN BLACK AND WHITE

THAT
The new Scheme as applicable to the officers/ employees in service would be
continued beyond their retirement/superannuation/resignation, etc. subject to
payment of stipulated premium by them.

The new Scheme would also cover the existing retired officers/ employees of
the Banks and dependent spouse subject to payment of stipulated premium by
them.

That being the case the existing premium paid by retired employees under REMAS
scheme be diverted to premium arrived at under annexure 4 of the settlement. After
setting off the existing funds under REMAS schemeand funds allocated as share of
REMAS corpus in the welfare fund every year for payment of premium the
balance if any can be levied to existing retired employee. In view of this scheme
the existing REMAS scheme can be suitably amended to cover only
reimbursement of normal medical expenses per annum with following eligibility
criteria

i.

Those who have been allowed to retire from the services of the Bank on
medical grounds and are not gainfully employed.

ii.

Those who have taken voluntary retirement from the service of the Bank
in terms of provisions banks Officers Service Regulation 1979, banks
Voluntary Retirement Scheme 2000-01 or under any other similar scheme.
However, they will be eligible to be covered under the scheme only after
completion of 60 years of age.

iii.

Those who have taken voluntary retirement from the service of the bank in
terms of provisions banks Pension Regulation 1995 after completion of
55 years of age or 30 years of service in the Bank and not gainfully
employed. However, they will be eligible to be covered under the scheme
only after completion of 60 years of age.

iv.

Those who have ceased to be in the service of the Bank or who will cease
to be in the service of the Bank for reasons other than those mentioned
above will not be eligible for membership and benefits under the scheme

May IOB and IOBians net together and achieve together.

May we enjoy together.
May we join in our efforts for achieving excellence in every sphere.
May we be enlightened with the lustre of complete computer knowledge and
knowledge of global bankings and its successful trends.
May there not be any envy in our rapport.
May we both require strength together.
May all effort for brilliant Industrial Relations and Industrial Peace flourish all
through.
May all of us and our family have joyful, blissful, secured peaceful life, be our new
vision statement now on; towards the success of which we shall put in best of our
body and soul together.

Suggestion 2
A SCHEME SIMILAR TO SSB SCHEME TO RETIREES

Bank has established SSB Scheme with specific objectives of rendering financial
assistance to members nominee/s in the event of members death during the period
of his service in the Bank. We request the Bank to introduce separate scheme
similar to SSB scheme exclusively to retirees, taking into account their
contributions to the scheme throughout the tenure of their service. Accordingly we
suggest the following:

1. Retirees can be enrolled as member on exercising their irrevocable option

before a stipulated date.

2. Retirees shall nominate a nominee / nominees in the order of preference to

receive the benefits of the scheme, in case of his death in prescribed form.

3. Retirees shall fill up suitable authorisation form of enrolling to scheme,

authorising the Bank to deduct the requisite sum from time to time as per objects of
the scheme from their pension account in case of pensioners or in the SB A/c at the
branch in case of PF optees.

4. The authorisation form, duly signed by the retired members to the Scheme shall
be kept at Central Office and branch shall deduct their SSB subscription from their
respective pension or SB account as the case may be as per the scheme from time
to time.

5. Taking into consideration, the present strength of retirees is around 9000, even
if 50% opt for the scheme, the compensation to bereaved family members
nominated by the deceased employee shall be substantial for all members.

6. On the death of the member, nominee / specified person requesting for the
benefits of the scheme shall make an application to the Branch Manager where the
deceased retiree has Pension or SB A/c in prescribed format in triplicate. The
branch shall forward the same to Central Office. Thereafter Central Office shall
include their names while issuing circulars as per practice in vogue.

7. All the other terms and conditions of the scheme shall remain unaltered.

We request the Bank to objectively consider our suggestion and implement the
scheme which will go a long way in providing succor and relief to bereaved family
members of retired employees.
Yours faithfully

S.SRINIVASAN
Retired bank unionist
& Former Director of IOB
23-07-2015
ambujchinu@gmail.com