IME Life New

Nepal Life launches retirement plan for second time, offers up to 38 months salary

SPIL
Global College
Nepal Life New

Kathmandu. Nepal Life Insurance Company Limited (NLIC) has announced voluntary employee retirement scheme 2082 for the second time.

The company has announced a voluntary retirement scheme for employees who have completed at least four years of service and two years of service remaining. Under this scheme, the participating employees will be able to get compensation for at least 15 months’ monthly basic salary (including grade).

Crest

According to the notice, the amount of compensation will be calculated on the basis of the amount received at the rate of monthly basic salary (including grade) received in the month of June 2082. Under this scheme, which has been implemented from Wednesday, the interested employees for voluntary retirement will have to apply to the company in the prescribed format by May 30.

While calculating the service period year, the condition has been set that the voluntary retirement scheme 2079 will be counted as one year only if the year of completion of 12 months i.e. the previous day of implementation.

The voluntary retirement scheme, which was targeted only to employees with plus two or lower educational qualifications last time, has been targeted from drivers to senior assistant general managers this time.

According to the information received by Insurance Khabar, the company has proposed to give minimum compensation of 19 months to driver, office assistant, peon, 16 months to junior assistant, assistant and senior assistant, 13 months to junior officer, officer and senior officer, 11 months to assistant manager, deputy manager, manager, senior manager, 9 months to assistant general manager and senior assistant general manager. Apart from this, they will get a minimum of 6 months to 13 months of basic salary as compensation based on the service period.

नेपाल लाईफले कर्मचारी स्वेच्छिक अवकाश याेजनाकाे म्याद एक साता थप्याे

According to the company, the amount of additional compensation has been determined based on the service period of 4 to 21 years. Under this, employees who have completed 21 years of service will get additional salary benefits from 12 to 19 months.

The board of directors of the company had announced voluntary retirement for the first time on February 1, 2019.  Under this scheme, ‘Voluntary Retirement Scheme 2079’ was announced for employees with educational qualifications of higher secondary school level (plus two) level (plus two) or below and have completed one year of service. However, although the company implemented the plan with a long period of about a month, the expected number of employees did not participate.

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