Bankers Unions must learn something from LIC Officers union. They had rejected the offer of 15% pay hike and demanded the 40% hike in wage revision. Additionally, they had also demanded for not to follow the bipartite settlement. Usually the LIC wage revision are done following the bipartite settlement.
Rejecting the 15% wage hike by LIC management, the union has demanded for 40% Salary hike. The LIC unions has already submitted the charted of demand with 40% wage hike. In the last wage agreement, the hike given was 25 per cent at average.
Meanwhile in the LIC, two rounds of wage revision talks have been held between the management and the unions.
“In the first round, the management offered 10 per cent wage hike and it was revised upwards in the second round to 15 per cent.
We said the offer does not meet our expectations,” All India Insurance Employees Association (AIIEA) General Secretary Shrikant Mishra told IANS.
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According to Mr. Mishra, the 15 per cent wage hike offer was made on September 30, 2020 and the first offer of 10 per cent hike was made in March 2019. “We have submitted a charter demanding 40 per cent wage hike.
In the last wage agreement, the hike given was 25 per cent at average,” he said. There are 16 trade unions and associations in the four general insurance companies and we are taking joint action. There are about 50,000-60,000 employees in the four companies.