IOB Retirees Portal Medical Insurance

What is IOB retirees portal? Indian overseas Bank is a bank which specialises in all kinds of foreign exchange trade or marketing. The bank was founded by Shri M.CT.M Chidambaram Chettyar. The bank was founded at the dawn of independence with 38 branches in India and 7 branches abroad and the deposits of and about Rupees 6.64 crores.

Indian overseas bank pension portal provides access to pension information for employees of Indian Overseas Banks (IOB). The portal has comprehensive information on IOB pension schemes and also allows users to search for retirement pensions. The IOB portal was launched in May 2013 by the Pension Fund Regulatory and Development Authority (PFRDA). Now let us understand in simple term what retirees portal is and how does it functions?

IOB Retirees Portal
IOB Retirees Portal

What is IOB Retirees Portal?

The English word ‘retiree’ means to retire from a company or institution or bank and then get benefit from the same institution as being served in that particular bank for years. This is a very crucial and important part of any government sectors.

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As we know that Indian overseas bank follows the norms and rules of the parenting bank and that is Reserve Bank of India. Now we should know the Reserve Bank of India puts infront two sets of topics where the retired individual will get benefited from the bank. The two topics are-

  • Pension
  • IOB Medical insurance

IOB Pension Portal

There are three conditions on which the workers/ employers can join the pension portal for demanding the same.

  • Were in the service of the bank before 29th September 1995 and has retired after the same mentioned date and before the date of settlement.
  • One has to become the member of the pension farm or fund.
  • There will be an option from where you want to have your pension. Here you need to select the bank branch.
  • One needs to refund within 30 days from the date of acceptance by the bank.
  • Now one has to accept the whole amount of the bank’s contribution as provident fund. From here the interest accrued there on received by the employer or officer on compulsory retirement together with the payment over and above the said amount at 56% of the amount.

The option for joining the pension Scheme shall be extended only to the eligible families. Here eligible families means the families who have a compulsory retired member from Indian Overseas Bank (IOB) Here one needs to have both the criteria workable to be a part of pension scheme.

Overview of IOB Retirees Portal OR Pension Portal

In this section we shared information regarding IOB retirees portal or pension portal as mentioned below:

IOB Bank Details
Bank Name Indian Overseas  Bank
Name of Portal IOB Retirees portal or Pension portal
Who Benefits This portal help regarding IOB retired employee’s pension related query
Beneficiaries Retiree employee or Ex Staff
IOB Retirees Portal Helpline Number 1800 890 4445

 

Criteria Stated by Reserve Bank of India for Retirees Portal:

These are the two most important criterias as stated by the Reserve Bank of India. Another retirees portal which opens for the general retired workers/ employers is Medical Insurance.

The Indian Overseas Bank is a bank which provides all kinds of medical support to its employers under the title of Indian Overseas Bank Health Care. This health care provides health care service to the employer and his family. Family comprises of-

  • The proposer or the employer
  • The spouse of the employer.
  • Two dependant children
  • Dependent parents

The main thing here is the employer gets regular policy for all of its family members designed for individual goal and creating a report on the basis of their health presently. This is a difference which Indian Overseas Bank creates which is different from all the regular ones. The Indian Overseas Bank also takes the responsibilities of hospitalising of the employees in certain scenario and events. Like–

  • Sudden illness
  • Any kind of Accident
  • Any surgery that is required for any kind of diseases.

The employees can have these medical policies in the course of their duty.  To be a part of this gigantic scheme a employer just needs to be a part of Indian Overseas Bank and fill of form of IOB Health Care Unit. It also includes the basic personal detailing form and a declaration of good health is also promised and stated.

The premium of this health care will be debited to the account after the authorisation is given. The insurance covers one year from the date of debit of the premium. The document required for the same are-

  • The copy of the proposal form.
  • ID card will be issued by the bank after the completion o the whole formalities.

How to Login in IOB Retirees Portal Online

The steps to login in the IOB retirees portal are–

  • First of all need to go to the IOB retirees Staff Portal website
  • Next enter your username & password
  • Finally click on “login” button

Sometimes the password is referred as roll number. Through this we may enter the portal and click on pension or medical services whatever we want to.

Frequently Asked Questions

  • How do I get my IOB Statement?

Ans: If you want IOB statement online then visit official website and login via your username & password. Then click on “service option” there you show “IOB e statement”. This way you got your IOB statement online.

  • How do I check my IOB mini statement?

Ans: You can check your IOB mini statement via Missed call, SMS banking, Mobile banking or Internet banking.

Final Words

The Indian Overseas Bank Pension Portal is a great resource for those in India who are looking for information on pensions. We hope you know all the details about IOB retirees portal or pension portal, how to get IOB mini statement and more. Still if you have any query or question please let us know via below section. We will our best try to include more information.

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