Himalayan Life, Himalayan Life brings golden handshake for the second time, attractive scheme for home-going employees
Kathmandu. Himalayan Life Insurance Company Limited has announced a voluntary retirement scheme for its employees.
The plan announced by the board of directors of the company on Wednesday to cut the number of employees will be implemented till August 15. According to the announced plan, the employees opting for the optional retirement scheme will get a minimum salary of 12 months along with dashain bonus. Chief Executive Officer Manoj Lal Karna said that the employees will be paid salary along with grades and allowances along with the total monthly basic salary of 2 to 14 months depending on the service period.
According to the company, those who have completed 2 to 4 years of service will get 2 months salary, those who have completed 4 to 7 years of service will get 5 months, those who have completed 7 to 10 years will get 8 months, those who have completed 10 to 13 years of service will get 11 months and those who have completed more than 13 years of service will be given 14 months.
The retirement plan has been announced targeting employees from office assistants, drivers to assistant CHIEF executive officers or above.
The company, which had 775 employees as of Mid-July 2081, has set a target of retiring 130 employees under the voluntary retirement scheme this time. The decision on whether or not to approve the application for participation in the voluntary scheme will depend on the decision of the board of directors.
Due to the merger between the three companies, the number of employees reached 785 in Chaitra 2080. In the case of large insurers with branch network across the country, it would be appropriate to have up to 450 people, but Himalayan Life employs two-thirds more manpower.
Himalayan Life Insurance Limited was merged with Union Life Insurance, Prime Life Insurance and Gurans Life Insurance Limited.
Earlier, the disgruntled employees of Himalayan Life, which had implemented the voluntary retirement scheme for the first time in 2080 BS, had staged a hunger strike at the main gate of the office demanding compensation for not giving them the opportunity of voluntary retirement after only a limited number of employees were included in the retirement scheme.
