PSU general insurer employees irked with move to link pay with performance

Experts say the government's decision to link wage revision with performance could have been pivoted on the financial health of the four public-sector insurers

Employee unions in public-sector insurance companies are unhappy with the government’s decision to link the next revision in wages of the staff to the performance of the organisations concerned and theirs.

The revisions take effect in August this year.

Unions are opposing this move and planning to hold demonstrations against it this week. They are also planning to take up the matter with finance-ministry officials after Diwali. A wage revision for public-sector banks and insurance companies is done every five years.

As regards the previous wage revision, the finance ministry last week notified an average 12 per cent hike in wages for employees