200 insurance staff apply for VRS

KOCHI, FEB. 26. More than 200 employees have applied for the voluntary retirement scheme (VRS) for the staff of public sector insurance companies of United India Insurance, New India Assurance, Oriental Insurance and National Insurance. The last date for applying for the scheme is February 27. The scheme was announced on January 1 this year.

Contrary to expectations of the management, the majority of applicants were from officer cadre, according to P. P. Mohan, the State General Secretary of General Insurance Officers All India Association. He said the apprehension among the staff that retirement age would be reduced to 58 and compulsory transfer were the main reasons that prompted higher cadre to apply for VRS, he said. At the national level, 8,500 members out of a total of 68,000 eligible staff have applied for VRS, according to him.

The VRS announced last year for the development staff had got a poor response. Only 33 out of 450 development officers in the State had opted for it, he said.