Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 23 November, 2017
Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2017 to 31.12.2017.
The Tables of Benefits for Savings Fund to the beneficiaries under the Central Government Employees Group Insurance Scheme-1980, which are being issued on a quarterly basis from 01.01.2017 onwards, as brought out in this Ministry’s OM of even number dated 17.03.2017, for the quarter from 01.10.2017 to 31.12.2017, as worked out by IRDA based on the interest rate of 7.8% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(1)-B(PD)/2017 dated 23.10.2017, are enclosed.
2.The Tables enclosed are of two categories as per the existing practice. As hitherto, the first Table of Benefits for the savings fund of the scheme is based on the subscription of Rs.10 p.m. from 1.1.1982 to 31.12.1989 and Rs.15 p.m. w.e.f. 1.1.1990 onwards. The second Table of Benefits for savings fund is based on a subscription of Rs.10 p.m. for those employees who had opted out of the revised rate of subscription w.e.f. 1.1.1990.
3.While these orders are in respect of Table of Benefits for the period from 01.10.2017 to 31.12.2017, the Tables already issued for the quarters from 1.1.2017 to 31.3.2017, from 1.4.2017 to 30.6.2017 and from 01.07.2017 to 30.09.2017 are also reproduced for the sake of convenience and consolidation.The Table of Benefits under CGEGIS-80 are prepared by IRDA based on the rate of interest notified by DEA for samll savings including GPF. Earlier, DEA used to notify the interest rate on financial year basis. However, DEA has now shifted to notifying the interest rate on quarterly basis. In view of this, it has been decided that the Table of benefits will be issued on quarterly basis commencing from 1.1.2017 to 31.3.2017
4.In their application to the employees of Indian Audit and Accounts Department, these orders are issued after consultation with the Comptroller & Auditor General of India.
5.Hindi version of these orders is attached.
(Amar Nath Singh)
Source:- Dept of Expenditure