The Managing Director & CEO,
UCO Bank,
Head Office,
Kolkata.
23/9/2021
Dear Sir,
Sub: Retirees Group Medical Insurance Scheme – hike in premium
You are aware that this year, when the group medical insurance scheme comes for
renewal, retirees will be more burdened due to sharp hike in premium. Workmen staff who
paid Rs 20508 plus GST as premium in the last year are now required to pay Rs. 28715
plus GST – more than 40% increase. Similarly Officers whose premium was 27342 plus
GST are now to pay 36,652 plus GST – nearly 35% increase – for non domiciliary scheme
For scheme covering domiciliary they are required pay 55,175 (50,893) and 72,917 (67,853)
plus GST – around 8% increase. Thus each one may have to shell out at least two months
of their Pension for the purpose. Poor Sub-staff members may have to apportion more
than three months of their pension for the purpose. Family pensioners will be more in
distress. When similar increase was there in the last year, substantial number of Retirees
had to opt out of the scheme as they could not afford to pay the premium fearing that it
would erode their monthly income and put them to unbearable hardship for meeting the
cost of minimum food and shelter. Thus, this year, it came as a rude shock to the retirees
who depend on their pension for minimum sustenance as the IBA circulated the revised
premium rate. We are deeply concerned that again a large number of Retirees will be
pushed to the corner and would be left with no option to opt out of the scheme, placing
themselves in a crisis with no cover to meet the medical expenses in exigencies at this
age
It is in the above context, the entire community of ex- staff which continue to feel proud of
being a member of UCO FAMILY, look to you and the Bank to come to their rescue by
being generous enough to share their concern and burden with some reasonable
contribution from the Bank to mitigate the hardship. We also understand that some Banks
have already decided to provide relief to the retirees by contributing good part of the
premium amount even stretching beyond the scope of staff welfare scheme.
We therefore request you to consider granting as much relief as possible in addition to
what is budgeted in the Staff welfare fund which, you are aware is very negligible.
Needless to say that UCO Retirees deserve such gesture in recognition of their role and
contribution in building up the Bank in yester-years.
We shall be thankful for your positive and timely action in the matter.