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Serving, retired employees of public sector insurers to benefit from pension option
Chennai, March 4 (IANS) Retired and serving employees of government-owned insurance companies are happy at the Centre’s decision to offer another chance to opt for pension scheme.
“I am happy with the interest rates on bank deposits sliding down, getting a steady pension income is good. I am going to opt for pension,” Y. Sivam, a retired employee of National Insurance Company Ltd, told IANS on Monday.
A serving employee in the same company on the condition of anonymity, said: “Earlier I didn’t opt for the pension scheme as the situation was different. But now the circumstances have changed. And I am going to retire in a couple of years down the line, it is better to have pension.”
According to the employee, the amount that a retired employee has to refund as the company’s share of provident fund can be recovered through monthly pension in couple of years time.
On a poll year, the welfare measure is expected to benefit 42,720 employees (serving and retired) of which 24,595 are of Life Insurance Corporation of India (LIC) and 18,125 of public sector general insurers.
The Central government recently decided to allow one more opportunity to employees of government-owned general insurers who had joined on or before June 28, 1995, to opt for pension as retirement benefit.
In April 1997, employees of LIC and public sector general insurance companies namely-General Insurance Corporation of India, National Insurance, Oriental Insurance Company and New India Assurance Company, who joined service on or before June 28, 1995, were given another opportunity to opt for pension, as a retirement benefit.
The scheme was introduced after the insurers had hired large number of freshers in 1990.
But, many eligible employees could not exercise the option and there has been a long standing demand from them to be given another option.
In order to mitigate the hardship of such employees of whom many have retired, government has decided as a welfare measure, to allow one more opportunity to employees of general insurers to opt for pension scheme in lieu of contributory provident fund.
The pension option is not available for those who had resigned from the company, said an official of an public sector insurance company.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.