GIPA Delegation Advocates for Pensioners' Rights in High-Level Meeting with GIPSA

A recent meeting between a delegation from the General Insurance Pensioners All India Federation (GIPA) and officials from the General Insurance Public Sector Association (GIPSA) brought several pressing issues to the forefront of discussion. Led by esteemed representatives including S/s Kaka Samant, President, U. Banerjee, General Secretary, Shyam Mathur, Dy Genl Secretary, RS Tuteja Vice President, Rajnish Pandey, Vice President, and V K Sharma, Organising Secretary, the meeting took place on April 10th at the GIPSA office in Delhi.

One of the key topics addressed was the longstanding demand for an increase in Family Pension basic from 15% to 30%. While GIPSA Chairman, Shri R R Singh, acknowledged the financial constraints faced by the sector, he expressed optimism that after a strong performance by the four PSGI companies in the '23-'24 period, the Department of Financial Services (DFS) would likely clear the recommendation by mid-June, '24.

The delegation also highlighted the need for pension updation, drawing attention to the significant disparities between pension amounts received by older retirees compared to more recent ones. While the Chairman noted the current financial limitations, he remained open to revisiting the issue during future wage negotiations. Other topics discussed included the negotiation of annuity rates with LIC, improvement in group medical policies, and recommendations for enhancing HITPA's functioning. The meeting, which lasted approximately two and a half hours, showcased the dedication of GIPA in advocating for the welfare and rights of pensioners within the general insurance sector.