.i516 (rug F?r *fiPUNJAB & SIND BANK

(NT{d q{rFr{ f, 3qiF'T/A GOVERNMDNT OT INDIA UNDERTAKING)

ciqEr tr, 21 {rda -fg, af friafr-ttooosII.O. HRD Department, 5th Floor, Bank House, 21 Rajendra Place, New Delhi-l10008

(tgFr Tel No. 011-25716407; *A Fax.0tt-25723793; f-dT E-mail: ho.hrd@psb.org.in

qftcrATniqrt ql rigfl Circulatory Letter No.

Eaiq'Date:frsTrtl fi qa dc+r Code No. of the Department

qn|r|*qRiqrfi q{ dl F TiEqr Number of pages of Circulatory Letter

' l+|vTs: 09.10.2015

: H9012

:1

TO ALL BRANCHES/CONTROLLING OFFICES

Reg:

for Retired Officers/Emplovees of the Bank

In terms of loth Bipartite Settlement dated 25th May 2015, the reimbursement of hospitalization expenses

to Retired Workmen shall be as per the Medical Insurance Scheme detailed in Schedule lV of the

settlement. In terms o.f Joint Note dated 25th May 201.5, the reimbursement of hospitalization expenses to

Retired Officers shall be as detailed in Annexure lV of the Joint Note.

The scheme covers the existing Retired Officers/Employees of the Bank and their spouse subject to

payment of stipulated premium by them. In case Retired officer/Employee has expired, his/her spouse

alone is also eligible for insurance under the scheme.

Sum Insured: Hospitalization and Domiciliary Treatment coverage as defined in the scheme per annum is

as under:

Cadre Sum lnsured Premium per family (Self & Spouse) Per Annum*

Retired Officer Rs.4.00 Lac Rs. 6,573/- plus Service Tax

Retired Clerk Rs.3.00 Lac Rs. 4,930/-plus Service Tax

Retired Sub-staff Rs.3.00 Lac Rs. 4,930/- plus Service Tax

*For employees retiring in mid of the term of policy, premium shall be charged on pro-rata basis.

ln case of spouse of deceased officer/employee, the category for coverage of the scheme will be

considered on the basis of last designation of deceased officer/employee.

One time option is being given to Ex-employees / Retirees to ioin the scheme now. Those who do not

opt now, would not be allowed to join later. once they have ioined and subsequently opted out, they

cannot rejoin.

The Bank had in the past provided a Medical lnsurance Scheme from its PSB Employees Welfare Fund

Trust, the Bank has decided to contribute the premium in above categories in the ratio of 50:50. Hence,

the premium (including service tax) will be borne by the ex-officers/employees or their spouse and the

Bank equally i.e Rs.3,2g7/- plus Service Tax and Rs.2,4651- plus Service Tax by the Ex-officers and Ex-

Clerks/Sub-Staff resPectivelY'

To operationalise the scheme, the information/data and undertaking as per enclosed proforma

(Annexure A) is urgently required in respect of Retired officers & Employees or by their spouse which

shou|dbesubmittedbyposttoH.o.PFDepartment,NewDe|hiorbye-mai|toho.pf@psb.co.in|atestby40.10.201s.

(D.D.Sharma)