Indian Air Force chief lauds AFGIS and IAFBA - ADU News Indian Air Force chief lauds AFGIS and IAFBA - ADU News

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IAF chief lauds AFGIS and IAFBA

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Air Force Group Insurance Society (AFGIS )New Delhi. Air Chief Marshal Arup Raha, Chief of the Air Staff (CAS) addressed the combined Annual General Body Meeting of Air Force Group Insurance Scheme (AFGIS) and Indian Air Force Benevolent Association (IAFBA) recently.
These are the two agencies which are the potent welfare arms of the IAF and have continuously evolved comprehensive welfare schemes catering to the diverse needs of Air Warriors, Air Veterans and their families.
 The Air Chief in his first part of his address, reviewed the performance of the association during 2014-2015.  He lauded the role of IAFBA by conveying that it has been proactive and made a positive impact to the aspiration of air warriors, both serving and retired.  The Air Chief also highlighted the humanitarian schemes being run by the association which included merit based scholarships, schemes of special children, disbursement of education loan, Indian Air Force, iafwelfare loans, performing decent last rites of deceased air veterans etc.
In the second part of the address, the  Air Chief  highlighted some significant measures initiated by the AFGIS to enhance the financial security of serving & retired air warriors serving and retired. The important ones include credit of 0.5% of bonus to the survival benefit,  the sustenance of the interest rate of 10% per annum on the survival benefits, the flying pay  linked insurance scheme wef 01 October 2014, Social Security Deposit Scheme for benefit of widows and next- of- kin of air warriors, facility of SMS alerts to retiring members about remittance of survival benefits, and enhanced insurance cover to air veterans and increase of house building loan from existing Rs. 35 Lakh to Rs. 50 Lakh wef 01 October 2015.
IAFBA will be  completing 75 years of its existence on 22 November 2015. Air Chief released a  ‘First Day Cover’, to commemorate the event.
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