Findings:
35.7% (N
=
745) of all employees suggested modifications
(Table 0079)
51
of the life insurance shceme.
The following is a retabulation of the frequencies and
percentages of responses giving ways of modifications.
(Table 0080-0083)
Modifications
Frequency N = 745
Percentage
(1) Increase the sum assured.
627
84.2
(2) In calculating the financial
salary, an average of more than
(3)
three years salary should be used.
In calculating the final salary,
an average of less than three years
to be used.
(4) Others.
20
20
2.7
74
118
9.9
15.8
The most important change was to increase the sum assured
as supported by the majority of responses.
8.
Suggested modification of the retirement benefits
Question 16. Do you think the third type of benefit scheme
-
retirement
benefit has to be modified? (Explain the benefit again
if necessary).
(1) To be modified (2) Not to be modified (3) Don't know,
What are the modifications? (Do not prompt first. If
the answer is not clear, probe the following points).
(1) The sum payable at retirement is too little. It
should be increased.
(2)
In calculating the final salary, an average of more
than three years salary should be used.
(3)
In calculating the final salary, an average of less
than three years salary should be used.
(4) The retirement benefit should increase with the time
of joining the scheme.
(5) Others
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