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.
Aims and Objectives
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.
Eligibility
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.
Scheme year
It will be
1st April to 31st March or the Association year of IOS
Member’s Subscription
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.
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.
Enrolment of Members
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.
ADVANCE FRATERNITY CONTRIBUTION (A.F.C.)
Every member shall pay initially Rs. 5000/- as Advance Fraternity Contribution along with the admission/entrance fees and membership fees.
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.
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.
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.
EXPLANATION
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
MANAGEMENT OF THE SCHEME :
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.
