UCO BANK RETIREES WELFARE TRUST

UCO BANK RETIREES WELFARE TRUST was formed in the year 2004 under the aegis of UCO Bank Retirees Association with the objective of formulating and implementing various welfare measures for the benefit of the members of the Association. Making a modest but a positive start in the year 2008 by taking over Medical Expenses Reimbursement Scheme from the Association, the Trust has been formulating various welfare scheme from time to time.

• Medical Expenses Reimbursement Scheme : As mentioned above the scheme commenced from the year 2008 with Medical expenses reimbursement. The Trust implemented the Medical Expenses Reimbursement Scheme from the year 2007-08 with a modest token reimbursement of Rs. 500 per member. The amount was increased to Rs. 1000 per member in the year 2008-09 and to Rs. 1500 per member from the year 2009-10. As on date, the Trust has a corpus fund of Rs. 7,50,000 and the reimbursements are being made out of the interest the Trust earns on the Corpus Fund invested in FDR’s with Bank. The Trust would entertain claims from members as long as funds are available in the interest account of the Trust.

• Jeevan Raksha Scheme : The Trust launched the Jeevan Raksha Scheme in October 2010 to provide Hospitalisation expenses reimbursement to needy members. .A life time subscription amount of Rs. 12,000/- is was fixed per member. A limit of Rs. 15,000/- is reimbursed fixed for reimbursement per member per year. We have reached a mile stone of more than 100 members by March 31st 2016 and currently we have 108 members. The Corpus Fund under the scheme has risen to Rs. 13,59,000/- (increased from Rs. 8,42,000/- as on 30-08-2015).

• Vishesha Swasthya Raksha Nidhi :We have recently launched the said ambitious scheme with effect from 8^th April 2016 to provide one time substantial financial assistance to members or his/her spouses who are suffering from any kind of critical illness involving long duration hospitalization, domiciliary treatment and huge cost of medicines etc. Details of the above schemes have been sent to all members of the Association by e-mail and by post several times and explained in detail in various meetings with members.