Under a RTI the following data has surfaced which shows that a whopping sum of about 61 crores has been paid as premium to the Insurance company for the Policy Term January 1 to December 31, 2018 in respect of OPD scheme for 70+ Pensioners.

“Even a simple summing up of the eligible limits of each of the above 70+ pensioners, against whom the premium was paid, will hardly be higher than the sum of Rs 60,95,81,165/- paid as premium”, says Kishore Chakraborty, President, AIRBIOPF in his appeal to the Hon’ble Governor .
In his letter, he further brings it to his notice that a large number of the 70+ pensioners, more so the Family Pensioners, because of various reasons, fail to make use of the GMP for OPD. “A huge portion of the sum paid by RBI as premium only helps the Insurance Company to fill their coffers and this is recurring in nature.”

Financial management of the scheme which does not stand to reason, can be set right by by converting the GMP for OPD for 70+ pensioners to monthly/annual monetary package for eligible pensioners, he concludes.