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The Scheme shall be known as “National Social Security Scheme of Indian Orthodontic Society” (hence forth and here after referred to as NSSS-IOS) and will be treated as a Fraternal Benevolent Scheme. “He” includes “She” in text that follows |
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Aims and Objectives |
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To provide FRATERNAL FINANCIAL assistance to the nominee of a member of this Scheme in the event of his/her death.
COMMENCEMENT OF THE SCHEME: The Scheme is to be commenced with a minimum member’s strength of 250. If within nine months of the date of endorsement of the scheme, the membership strength does not reach the target of 250 the scheme will not be commenced and will be dissolved and the refunds as applicable as per the laid down constitution will be made to each such member enrolled. |
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Eligibility |
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Only a life member in good standing of I.O.S (Only life members) is eligible to join the Scheme as founder member and or member. After one year FROM THE DATE OF THE COMMENCEMNET OF THE SCHEME, member up to the age of 65 years ONLY will be eligible. The Age of the proposed member will be calculated from the date of the birth to the date of the application form duly filled and with remittance of the prescribed fees. |
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Scheme year |
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It will be 1st April to 31st March or the Association year of IOS |
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Member’s Subscription |
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| Each member wishing to enroll in the scheme will fill the prescribed form along with the birth date and year with proof and proof of Membership in good standing with the below prescribed fees. |
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Admission fees Members (Refundable on death or discontinuation of the scheme as per refund rules):
Below the age of 25 Years Rs. 1,000/-
Below the age of 30 years (but above 25 years) Rs. 1250/-
Below the age of 35 years (but above 30 years) Rs. 1500/-
Below the age of 40 years (but above 45 years) Rs. 1750/-
Below the age of 45 years (but above 40 years) Rs. 2000/-
Below the age of 50 years (but above 45years) Rs. 2500/-
Below the age of 55 years (but above 50 years) Rs. 2750/-
Below the age of 60 years (but above 55 years) Rs. 3000/-
Below the Age of 65 years Rs. 3500/
Above Age of 65 years (only for the first year of the N.S.S.S.-IOS) Rs. 4000/-
Entrance fee non refundable - Rs. 500/- for every member of any age group. |
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Enrolment of Members |
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Nominee of the member- Each member on joining the scheme shall nominate one person who shall be the sole beneficiary of the Fraternal Contribution. (Defined below). A separate nomination form will have to submitted, with attested signatures of member as well as the Nominee. |
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ADVANCE FRATERNITY CONTRIBUTION (A.F.C.) |
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| Every member shall pay initially Rs. 5000/- as Advance Fraternity Contribution along with the admission/entrance fees and membership fees. |
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Rs. 1000/- per every death of any member of NSSS-IOS during the year will be deducted from A.F.C.
At the beginning of next Scheme year, the amount deducted during the preceding year as Fraternity Contribution (F.C.)will be collected from the members to make advance Fraternity Contribution amount balance per member to Rs. 5000/-. To that effect each member shall be sent a notice specifying the amount and the deadline. After the dead line there will be a fine for each day as decided by the Scheme. |
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Every member of the scheme shall contribute F.C. of Rs. 1000/- which shall be automatically deducted from the A.F.C. in the event of death of member. Out of the above amount Rs. 900/- shall be paid to the nominee of the deceased member and Rs. 100/- will go towards the corpus fund. |
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The balance of A.F.C. amount, if any, shall be refunded on termination or discontinuation of membership or in the event of death of the member to the nominee of the member, whichever is earlier. |
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EXPLANATION |
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Upon the confirmed and well documented information of demise of any member of the scheme, each other member shall pay Rs. 1000/- to the scheme (Automatically debited from the A.F.C.). An amount of Rs. 900/- multiplied by the total number of the members (e.g. Rs. 900 x 500 members=Rs. 4, 50,000/- or Rs. 900 x 1000 members=Rs. 9, 00,000/-) shall be paid to the nominee of the deceased member within the stipulated period (within 21 days) as Fraternal Death Contribution. If there are more than 1000 members, the F.C. would be more than Rs. 9, 00,000/-. That implies that more members more would be the benefit to the family.
Management of the Scheme |
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| MANAGEMENT OF THE SCHEME : |
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The Scheme shall be managed by the Committee of the N.S.S.S-IOS.
The Committee shall consist of :
President of the IOS. And Honorary Secretary I.O.S. Ex-Officio.
Chairman N.S.S.S.-IOS, (one)
Vice-Chairman
Honorary Secretary, N.S.S.S.-IOS Appointed by the Chairman of the Scheme.(One)
Honorary Joint Secretary N.S.S.S.-IOS Appointed by the Chairman of the Scheme. (One)
Honorary Treasurer N.S.S.S.-IOS Appointed by the Chairman of the Scheme.
Three Committee Members: Tenure will be 3 years and 1/3 retiring every year.
Duration of term of office of the Chairman, Vice Chairman, Secretary and treasurer of the scheme shall be 4 years.
Co-Option: The Chairman may co-opt one member from amongst the member of the scheme in any meeting of the Committee. |
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