State Life Insurance Employees win 15% pay raise on basic pay

The life insurance employees of Pakistan are celebrating a new collective bargaining agreement that gives them a 15% pay raise on basic pay and improved protections on the job.

The agreement between the State Life Insurance Employees Union of Pakistan and the State Life Insurance Cooperation of Pakistan secures not only financial benefits with the average in increase 25% against the Gross Salary but also secures administrative issues as well.

A big win for the workers, as they now expect an average of 25% Gross Pay Increase, 15% increase on basic pay, 7% increase in utility allowances an extra 11,00/- PKR, added 1,000/- PKR for medical allowances and a commitment from the corporate to improve medical facility. The union was able to negotiate 33% quota for present workers´ children in the corporation.

“This agreement is proof that when workers remain committed to act together in union, we can win strong wage increases and added protections,” said Rajendra Acharya, UNI Global Union’s Regional Secretary for Asia Pacific.

Ref: Related file for Copy the Memorandum of Agreement signed between State Life Insurance Cooperation of Pakistan and the State Life Insurance Employees Union of Pakistan.