Nationwide Campaign by Insurance Employees Aims at New Reforms

The All India Life Insurance Employees' Federation (AINLIEF) plans a nationwide campaign to challenge the introduction of GST on insurance premiums and oppose further increases in foreign direct investment in the insurance sector. The federation seeks support from MPs and advocates for reverting to the old pension scheme.

The All India Life Insurance Employees' Federation (AINLIEF) announced on Saturday its intentions to initiate a nationwide campaign. The campaign will advocate for the removal of GST on insurance premiums and prevent any further escalations in foreign direct investment in the insurance sector.

General Secretary V Narasimhan, during the All India Triennial General Conference, stated that they would engage with Members of Parliament across political lines to garner backing for these demands. The conference saw participation from delegates nationwide.

In addition, AINLIEF's agenda includes calling for the withdrawal of new labor codes and the reimplementation of the old pension scheme for LIC employees hired post-2010. Currently, the insurance sector permits up to 74% FDI, and the government contemplates increasing this to 100%, Narasimhan highlighted.

(With inputs from agencies.)