Retirees' Space is designed to help and guide the retirees of the Bank. The space provides access to the links which help them with the necessary details and documents they may require.

Digital Service Memoir

As a sequel to our digitization journey, we are happy to introduce a new digital platform - Digital Service Memoir. It is an exclusive portal for Pensioners of our Bank, which would serve as a one stop single window and user-friendly interface for their various requirements.

Currently, the following functionalities are enabled in the platform.
 

  • Service Memoir (Digital Pension Book):  Portal to view and download Personal Details, Service Details and Pension Details.  The Pensioner details can be exported in PDF, which would serve as a Pension Book. 
  • Income Tax Portal:  To select Income Tax Regime / Submit Online Investment Declaration, Upload proof for Investments and for viewing and downloading Form- 16.
  • Pension Pass Book: To view and download details of monthly Pension credited and TDS deducted. 

 

 

 

Medical Insurance Scheme

 

 

Coverage Under Retirees’ Medical Insurance Scheme for the period 01.10.2022 to 31.10.2022

 

Employees retired/retiring from the services of the Bank during the period 01.10.2021 to 30.09.2022, are covered under the Scheme as applicable to Active Employees of the Bank, which is valid upto 30.09.2022.The  Bank has already paid the full premium in such cases for getting coverage under the Scheme up to 30.09.2022. Please note that Active Employees and Retired Employees are covered under different Group Policies and the features of the Medical Insurance Scheme applicable to active and retired employees are also different. The Medical Insurance Policy applicable for retired employees will be due for renewal only on 01.11.2022; (the terms and conditions of which, including the renewal premium will be communicated separately in due course). Inorder to avail the coverage under the scheme, employees retiring/retired during the period from 01.10.2021 to 30.09.2022 are required to remit pro- rata premium for the one month period initially for joining the running retirees’ medical insurance policy so as to get the coverage for the period from 01.10.2022 to 31.10.2022

 

M/s. National Insurance Company Ltd. has provided an option to those who retired/retiring from the service during the period from 01.10.2021 and 30.09.2022 for joining the scheme as applicable to the Retired Employees for a period of one month (01.10.2022 to 31.10.2022), details of which are as given below:-

 

  • Retirees can choose any one of the two options ; i) Option I without Domiciliary Coverage and ii) Option II with Domiciliary coverage
  • Beneficiaries can avail coverage for family or single person* ( *applicable only to a Retiree without Spouse or Surviving Spouse of the deceased Retiree) as applicable, by paying premium at required rates.
  • Basic Sum Insured applicable for Retired Officer shall be Rs. 4,00,000/- and that for Retired Award Staff shall be Rs.3,00,000/-.

 

Option I & Option II

 

  • Option I - Without Domiciliary Coverage

Under this Option, expenses incurred in connection with hospitalization alone are envisaged in the scope of the Policy and expenses incurred for domiciliary treatments are not covered.

 

  • Option II - With Domiciliary Coverage

 

Under this Option, expenses incurred for domiciliary treatment are also covered for a list of diseases, in addition to the hospitalization expenses.  However, the coverage for domiciliary treatment expenses shall be capped at a maximum of 10% of the Sum Insured. (Example : Domiciliary Coverage for Rs. 4 L Sum Insured Policy shall be Rs. 40,000/- and that for Rs. 3 L Sum Insured Policy shall be Rs. 30,000/-)

 

Please note that the Bank, as a gesture of goodwill, shall bear a portion  of the Premium payable (as mentioned in the table given below). Those employees retired/retiring from the services of the Bank during the period 01.10.2021 to 30.09.2022 and wish to retain the coverage in the Scheme for one month till 31.10.2022 would be required to remit the balance premium. The details of premium are as follows.                                                                                                                                                    

  • Option I Without Domiciliary

 

Cadre

Sum Insured - Base Policy

Family Floater

Single Person

Base Policy Premium – Family (incl. GST)

Bank's Contribution - Family

Balance premium to be remitted by the beneficiary -Family

Base Policy Premium - Single

Bank's Contribution - Single

Balance premium to be remitted by the beneficiary - Single

Officer

4,00,000

3,673

2,204

1,469

2,387

1,435

952

Award Staff

3,00,000

2,878

1,728

1,150

1,870

1,125

745

 

  • Option II With Domiciliary

 

Cadre

Sum Insured - Base Policy

Family Floater

Single Person

Base Policy Premium – Family (incl. GST)

Bank's Contribution - Family

Balance premium to be remitted by the beneficiary -Family

Base Policy Premium - Single

Bank's Contribution - Single

Balance premium to be remitted by the beneficiary - Single

Officer

4,00,000

7,308

2,204

5,104

4,750

1,435

3,315

Award Staff

3,00,000

5,529

1,728

3,801

3,594

1,125

2,469

 

 

In case a Retired Employee wish to avail coverage under the Scheme for one month as per Option I with Family (Employee & Spouse)  no application is required to be submitted to that effect.  

 

In case a Retired Employee wish to avail the coverage under Option I Single person or Option II with Domiciliary, the application in the attached format  need to be submitted so as to reach HR Department latest by 19th September 2022.

 

In case  a Retired Employee do not wish to retain the coverage under any of the options after 30.09.2022, please take up the matter with HR Department latest by 19th September 2022 in the below given email ID. It may be noted that, the membership in the Scheme is a onetime option; employees once opt out/do not join/do not renew the policy, will not be allowed to join the Scheme on a later stage. In case we do not receive any communication from the eligible beneficiaries within the prescribed timeline, it will be presumed that the eligible beneficiary have chosen Option I with family (without domiciliary) subject to norms and accordingly applicable premium will be appropriated from the respective account. (This automatic enrolment into the policy will be applicable for one month renewal/addition only).

 

Upon exercising the option for continuing the coverage under the Scheme as applicable to retired employees, the proportionate amount of premium, payable by the eligible beneficiary, will be appropriated from the Savings Bank Account (Pension Account in applicable cases).  Please note that, remittance of premium is a pre-requisite for availing the policy benefits under the Scheme; hence all concerned are advised to maintain sufficient balance in the Savings Bank Account and confirm the enrollment in the scheme by ensuring the required debit from the account latest by 28.09.2022. 

 

Please note that Retired Employees’ Medical Insurance Policy is being serviced by M/s Heritage Health Insurance TPA and the details of the Medical Insurance Policy is made available below.

 

For any clarifications please contact, e-mail ID: medicare@federalbank.co.in, PhoneNo.0484 – 2634062/4138.

 

Renewal of Medical Insurance in respect of  Retired Employees of the Bank

Medical Insurance Policy in respect of Retired Employees of the Bank has been renewed for a further period of one year w.e.f from 01.11.2021, in association with M/s National Insurance Company. M/s. Heritage Health Insurance TPA shall continue as the TPA for the policy period from 01.11.2021 to 31.10.2022.

 

E Card- Medical Insurance 2021-22

Beneficiaries can download e-cards for the policy year 2021-22 using the following link.

Link to generate e-card ( Click Here )

Steps for downloading e-card.

1) Click on the Provided Link

2) Insurance Co  → Select Indian Bank Association (In National Insurance Company)

3) Corporate Name : Federal Bank (Type Manually)

4) Policy Year →  Select 2021-22

5) EmpID → Enter the PF Number

6) Click the Submit Button

M/s. Heritage Health Insurance TPA Pvt. Ltd. can also be contacted in the following phone numbers/e-mail id, for any assistance.

Contact Numbers : 0484-4051199, 7736861944, 7736861943, 0484-2634308

Email ID : federalbank.heritage@bajoria.in

 

 

Fed-e-Life

 

Fed-e-Life: Digital Life Certificate for Pensioners/Family Pensioners of the Bank

Pension and Family Pension beneficiaries of the Bank are required to submit Life Certificate to the Trustees of The Federal Bank (Employees’) Pension Fund, every year, to ascertain their life status so as to ensure uninterrupted receipt of Pension/Family Pension.   Hitherto, hard copy of the Life Certificate (in the prescribed format), was required to be submitted to HR Department, through any of our Branches/Offices, after duly certified by Officials of the Bank. 

As an endeavor to migrate fully to digital/paperless model, a new platform i.e.  Fed-e-Life has been introduced in order to facilitate our Pension/Family Pension beneficiaries to submit their Life Certificate digitally, without visiting Branch/Office.  Any changes in Address, Mobile Number, e-mail ID etc., can also be updated while submitting the Digital Life Certificate. 

Click here to view the detailed operational guidelines 
 

 

Digital Life Certificate is based on AADHAAR validation and hence, only those beneficiaries having valid AADHAAR can submit the Life Certificate digitally. In the case of other beneficiaries (not having valid AADHAAR), the existing practice i.e. submitting hard copy of the Life Certificate through any of our Branches/Offices shall be continued. 

Please call us at 0484-2634263 or e-mail to trust@federalbank.co.in for any queries or clarifications.

Special Personal Loan Scheme to Pensioners of the Bank

Special Personal Loan Scheme to Pensioners of the Bank

A Special Personal Loan Scheme has been introduced by the Bank in April 2015 in respect of Employees who have retired from the services of the Bank on attaining the age of superannuation and those who have retired at the age of 55 or above under VRS/VSS.

Various refinements have been brought in the scheme from time to time. The refined Personal Loan Scheme, extended to all Ex- Federals who are currently pensioners of our Bank, is reproduced below for the information of all concerned.

Eligibility

  1. Applicant shall be a Pensioner of the Bank
  2. Employees who retired from the services of the Bank on attaining the age of superannuation and employees who retired at the age of 55 or above under VRS/VSS shall be eligible for the Loan
  3. Minimum take home pension/ income after meeting all commitments towards loans including the proposed one should be Rs. 7500/-

Type of Facility

Term Loan

Loan Amount

Upto 10 times of Monthly Pension or Rs.2.00 Lakh, whichever is lower.

Repayment

EMI

  1. By way of auto recovery from the SB account to which the Pension is credited, based on the irrevocable Letter of Authority.

Tenure

  1. 5 years or tenure upto the date on which the retiree applicant attains the age of 70 years, whichever is shorter.

Rate of Interest

Repo Rate + 5.60% (Spread)

Late Payment Fee

2% p. m. in case of default

Processing Fee

Nil

Co-obligancy

  1. Co-obligancy of Spouse
  2. In case of widow/widower, co-obligancy of any earning family member

Security

Nil

Three undated crossed blank cheques in favour of Federal Bank

FOIR

  1. Maximum 65% irrespective of income level
  2. No relaxation permitted

Internal Credit Rating & CIBIL

  1. CIBIL Score as per Retail Loan norms
  2. CIR from CIBIL to be taken
  3. Charges pertaining to CIBIL report to be borne by the Pensioner

Sanctioning Authority

CRCH

Disbursal Branch

Loan to be disbursed only through the Branch where the Pensioner is maintaining the Pension Account

Other Terms & Conditions

All other terms & conditions of Federal Personal Loans (as applicable to general public)

 

Identity Cards to Retired Employees

Identity Cards to Retired Employees

We are pleased to inform that the Bank has decided to issue ID Cards to all the employees, who have retired from the services of the Bank on superannuation. In order to make arrangements to issue the ID Card, employees retired from the services of the Bank on superannuation are requested to submit the application as per the format can be downloaded from here. Kindly forward the application, duly attested by the Principal Officer of the nearest Branch/Office, to HR Employee Relations & Operations.

Download

 

Relaxations in the norms of Staff Loans in respect of employees retired from the Bank 

At present, employees are permitted to continue Vehicle Loan, Housing Loan and Federal Vidya Loan / Federal Career Solutions Loan even after their retirement. On a review, it is decided by the Bank to extend the relaxations to those who have retired from the services of the Bank on superannuation subject to certain conditions. 
 

Application for Commercial Employment

Application for Commercial Employment

All pension opted Retiree Officers of the Bank who wish to accept / engage in any commercial employment / practice for any gainful employment within two years from the date of their retirement shall obtain prior permission from the Bank. The format for application can be downloaded from here.
 

ESOS

Employee Stock Option Scheme 2010- Lapse of Options Granted

 

As per the Employee Stock Option Scheme, the Exercise Period of Stock Options commences from the Date of Vesting of Options, which will expire on completion of five years from the respective date of the Vesting of Options. As such, any decision regarding exercising of the Options has to be taken by the beneficiaries within this period. All concerned may take note that the Options vested will get lapsed, if not exercised within the specified Exercise Period, which will be consequently considered as Options that have not been Granted.

 

The Options vested on 12th September 2017, (Grant for the Year 2013 at an Exercise Price of Rs. 28.63 and Grant for the Year 2014 at an Exercise Price of Rs. 62.00) would lapse, if not exercised within 11th September 2022 and Options vested on 05th November 2017, (Grant for the Year 2012 at an Exercise Price of Rs. 47.40) would lapse, if not exercised within 04th November 2022. It is reiterated that as per the Scheme, Options once lapsed shall be treated as Options that have not been Granted and hence, the beneficiaries would not have any claim on the lapsed Options on a later date.

 

In this background, all concerned are advised to take necessary steps to exercise the Options before the expiry date itself. Kindly refer Circular No. 10846 dated 01/12/2020 and Circular No. 12329 dated 08/03/2022 for the process changes in respect of exercising Stock Options. Details of Vesting Schedules and respective Expiry Dates can be viewed by the eligible beneficiaries by accessing ESOS Online https://esos.federalbank.co.in).

 

ESOS Online site can be accessed by clicking the link below.

ESOS Online

Grievance Redressal

Retired employees can address their grievances to bank. Please Click here for more details.

Downloads

Policy Schedule - Without Domiciliary 2021-22
Download
Life Certificate Format - Family Pensioners
Download
Mandatory Requirement of Linking PAN with Aadhaar
Download
Implementation of Auto Debit in ESOS Online and the related process changes
Download
ESOS Online – Disabling the ‘Exercise Now’ Menu
Download
PF Case update
Download
Instructions for submitting the application online
Download
Fed-e-Life: Digital Life Certificate for Pensioners/Family Pensioners of the Bank
Download
Retirees Policy Without Domiciliary
Download
Retirees Policy Super Top Up
Download
Medical Insurance Claim Format
Download
Employee Stock Option Scheme 2010 - Lapse of Options
Download
Medical Insurance Scheme Details
Download
Format of Life Certificate
Download
Application for Identity Card to Retired Employees
Download
Application for Commercial Employment
Download
ESOS Online - User Manual
Download
ESOS -2010 Bonus Issue
Download
Extension of Vesting dates - ESOS 2010
Download
Annexure 2021-22 One Month Renewal
Download

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