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30th March, 2009GIPSA1 3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT HYDERABAD.

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Presentation on theme: "30th March, 2009GIPSA1 3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT HYDERABAD."— Presentation transcript:

1 30th March, 2009GIPSA1 3 RD ROUND DISCUSSIONS WITH UNIONS/ASSOCIATIONS OF GIPSA MEMBER COMPANIES ON 30.03.2009 AT HYDERABAD

2 30th March, 2009GIPSA2 PRESENTATION MADE ON 28.11.2008 Sharing of Financials, Constraints & Projections. Inviting suggestions & comments for review & re-look. Call for evolving a Joint Agenda – Common Path. Commendable response by the Unions. Commitments of cooperation/support.

3 30th March, 2009GIPSA3 2 ND ROUND DISCUSSIONS FROM 3 RD TO 6 TH FEB., 2009 First step taken by Management on common path Submission of a draft Joint Agenda Mixed response from Unions for walking along Positive and constructive responses from the Unions taken note of Review and re-look of projections

4 30th March, 2009GIPSA4 ISSUES FOR REVIEW/RE-LOOK GDPI Growth Projection @ 5.68%? ME Growth Projection @ 9.1%? Factoring in of SVRS amortization amount in 2007-08 Wage Bill Base? Factoring in of Rationalization of manpower? Factoring in of Inv. Income from Policyholders Fund in Revenue A/c ? Additional External opportunities Impact of internal support/motivation

5 30th March, 2009GIPSA5 RESULT OF REVIEW / RE-LOOK GDPI Growth to be projected @7% in place of 5.68% ME Growth to be projected @5% in place of 9.1% Base Wage Bill for 2007-08 to be discounted by Rs. 154 Crs.(SVRS Amort.) Inv. Income from Policyholders Fund to be factored in Revenue A/C. Impact of internal support/motivation kept in view.

6 30th March, 2009GIPSA6 REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 1 (Rs. in Crores) ACTUALPROJECTIONS 2007-082008-092009-102010-112011-122012-13 Gross Prem ↑ @ 7.00% p.a.178131906020394218222334924984 M. Exp (w/o WR) ↑ @ 5% p.a. (Excluding SVRS Amort) 358737663955415243604578 ME %20.1419.7619.3919.0318.6718.32 Addition to ME with 5% WR w.e.f. 01.08.2007 89141148156164172 Total ME367639084103430845244750 ME (% to GP)20.6420.5020.1219.7419.3719.01 Required Gr. Prem. for 19.50% ME 2003921041220932319824357 Premium Gap -979-647-271152626

7 30th March, 2009GIPSA7 GAP BETWEEN “HAVE” & “WANT TO HAVE” – 2 REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 2 (Rs. in Crores) ACTUALPROJECTIONS 2007-082008-092009-102010-112011-122012-13 Gross Prem ↑ @ 7.00% p.a.178131906020394218222334924984 M. Exp (w/o WR) ↑ @ 5% p.a. (Excluding SVRS Amort) 358737663955415243604578 ME %20.1419.7619.3919.0318.6718.32 Addition to ME with 10% WR w.e.f. 01.08.2007 178282297311327343 Total ME376540494251446446874921 ME (% to GP)21.1321.2420.8520.4620.0719.70 Required Gr. Prem. for 19.50% ME 2076321801228912403625238 Premium Gap -1703-1407-1070-687-254

8 30th March, 2009GIPSA8 REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 3 (Rs. in Crores) ACTUALPROJECTIONS 2007-082008-092009-102010-112011-122012-13 Gross Prem ↑ @ 7% p.a.178131906020394218222334924984 M. Exp (w/o WR) ↑ @ 5% p.a. (Excluding SVRS Amort) 358737663955415243604578 ME %20.1419.7619.3919.0318.6718.32 Addition to ME with 15% WR w.e.f. 01.08.2007 266424445467491515 Total ME385341904400462048515093 ME (% to GP)21.6321.9821.5721.1720.7720.39 Required Gr. Prem. for 19.50% ME 2148822562236902487426118 Premium Gap -2428-2168-1868-1525-1135

9 30th March, 2009GIPSA9 REVISED GAP BETWEEN “HAVE” & “WANT TO HAVE” – 4 (Rs. in Crores) ACTUALPROJECTIONS 2007-082008-092009-102010-112011-122012-13 Gross Prem ↑ @ 7% p.a.178131906020394218222334924984 M. Exp (w/o WR) ↑ @ 5% p.a. (Excluding SVRS Amort) 358737663955415243604578 ME %20.1419.7619.3919.0318.6718.32 Addition to ME with 20% WR w.e.f. 01.08.2007 355565593623654687 Total ME394243314548477550145265 ME (% to GP)22.1322.7222.3021.8821.4721.07 Required Gr. Prem. for 19.50% ME 2221223322244892571326999 Premium Gap -3152-2928-2667-2364-2015

10 30th March, 2009GIPSA10 Analysis of Revised Working Gap between “Have” and “want to Have” comes down as projected on 31.03.13 from 40C angle, - For 5% Wage Revision, from Rs.7,300 crs. to NIL For 10% Wage Revision, from Rs.8,400 crs. to Rs. 254 crs. For 15% Wage Revision, from Rs. 9,500 crs. to Rs. 1,135 crs. For 20% Wage Revision, from Rs. 10,600 crs. to Rs. 2,015 crs.

11 30th March, 2009GIPSA11 Further hurdles…… Overall operational results still a matter of concern. Inv. Income projections assuming greater uncertainty. Business Procurement Cost continues to rise. So does the Incurred claims amount. Combined outgo continues to mount. Leaving less and less for increased expenditure on other things including Wages.

12 30th March, 2009GIPSA12 Best possible projections of operational results, as on date Workings when ME do not include SVRS Expenses (& WR Arrears in 2005-06, for Least Square Estimation) ACTUALS PROJECTED (Least Square Estimates ) 2003-042004-052005-062006-072007-082008-092009-102010-112011-12 NET PREMIUM103281111811752130161386214600155001630017200 Increase in Unexpired Risks Res.242401318650453360435385430 EARNED PREMIUM100861071711434123671340814240150651591516770 INCURRED CLAIMS8253907510570105391212512950139001475015750 ME307834203277328535873670381039304050 COMMISSION3225136866729311000114012601410 COMBINED OUTGO116541300914532144961664217620188501994021210 U/W LOSS (Comb. Outgo Less Earned Premium)156822923098212932343380378540254440 Investment Income (Policyholders)27583015382639254048 3600 (?) 3800 (?) 4000 (?) 4200 (?)

13 30th March, 2009GIPSA13 Then, what ?... Faith and hope are substance of life We have faith in you We have hope in you We know you will not let us down We, too, will never let you down With hope and faith in you, we propose the maximum possible Wage Revision for our people under the current constraints.

14 30th March, 2009GIPSA14 Wage Revision Proposal (Subject to Government’s approval) Wage Bill as on 01.08.07 : Rs. 2,569 crs. (excluding SVRS Amort.) Additional expenditure proposed on Wage Bill as on 01.08.07 : Rs. 308.28 crs. Overall percentage rise : 12% Average Per capita (p.c) rise p.a. : Rs.44,100/- Average p.c rise as on 01.08.02 : Rs.32,477/- Proposed rise higher than last rise by : 36% The proposed rise is subject to the Organizational Agenda as floated on 03.02.09

15 30th March, 2009GIPSA15 View of 40C - Projections post proposed Wage Rise (Rs. in Crores) ACTUALPROJECTIONS 2007-082008-092009-102010-112011-122012-13 Gross Prem ↑ @ 7% p.a.178131906020394218222334924984 M. Exp (w/o WR) ↑ @ 5% p.a. (Excluding SVRS Amort) 358737663955415243604578 ME %20.1419.7619.3919.0318.6718.32 Addition to ME with 12% WR w.e.f. 01.08.2007213339356374392412 Total ME380041054311452647524990 ME (% to GP)21.3321.5421.1420.7420.3519.97 Required Gr. Prem. (↑ @7.5%p.a.) for 19.50% ME 2105322106232112437125590 Premium Gap -1993-1711-1389-1022-606

16 30th March, 2009GIPSA16 POSSIBLE PAY SCALES WITH 12% REVISION Cadre Existing Scale (including Stagnation Increments) Possible Scale with 12% Revision Sub-Staff4105-91655760-12860 Or, Running Scale of 5760-17270 for 3 cadres combined Driver4665-106056550-14880 Record Clerk4665-123156550-17270 Assistant4995-168907010-23690 Sr. Assistant/Steno6885-196259660-27520 Dev. Officer Gr.II5400-80507580-11290 Dev. Officer Gr.I7850-2106011010-29540 Contd…

17 30th March, 2009GIPSA17 POSSIBLE PAY SCALES WITH 12% REVISION Cadre Existing Scale (including Stagnation Increments) Possible Scale with 12% Revision Scale I11110-2203015580-30900 Scale II14890-2427020880-34040 Scale III18130-2593026430-36370 Scale IV22030-2658030900-37280 Scale V25930-2933036370-41130 Scale VI28605-3253040120-45620 Scale VII31745-3610044520-50630

18 30th March, 2009GIPSA18 Allocation of proposed rise into various components of Wages The overall Wage rise of 12% shall be distributed into various components of Wage (including Basic Pay Scales) once a broad understanding is reached on the overall proposal. Response of the Unions/Associations is invited.

19 30th March, 2009GIPSA19

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