Friday, October 15, 2021

Air India HR dept collecting information on retired staff for insurance

As the government plans to take over the insurance responsibility of all retired Air India employees, the national carrier's HR department has started collecting information on eligible former staff.

"This data will be shared with the government as it is taking the responsibility of providing medical benefits to retired employees," an official said on the condition of anonymity.

The government last week announced that the Tata Group has won bids for 100% stake in Air India and Air India Express and 50% stake in ground handling company AISATS after a bid process that was managed by EY.

As part of the deal, the government has announced taking responsibility for the medical benefits of about 55,000 retired employees.

"Air India's retirement benefits, since it was a private company earlier, are not like usual public sector undertakings... They do not get pension but get paid PF and gratuity benefits and medical benefits - employees are charged '50,000 upon retirement to fund their medical benefits," said an official source.

15/10/21 Mihir Mishra/Economic Times

To Read the News in full at Source, Click the Headline


Post a Comment