Enter Keyword and Search



CGEGIS Table - Tables of Benefits for the savings fund for the period from 1.1.2014 to 31.12.2014

CGEGIS Table - Tables of Benefits for the savings fund for the period from 1.1.2014 to 31.12.2014

Table for Central Government Employees Group Insurance Scheme 1980 - - Tables of Benefits for the savings fund for the period from 1.1.2014 to 31.12.2014

No.7(1)/EV/2013
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the 08 January, 2014

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme – 1980 – Tables of Benefits for the savings fund for the period from 01.01.2014 to 31.12.2014.

The undersigned is directed to refer to this Ministry’s O.M. No.7 (2)/EV/2012 dated 15th January, 2013 forwarding therewith Tables of Benefits under CGEGIS for the year 2013. New Tables of Benefits for the savings fund of the Scheme based on a subscription of Rs.10 per month from 1.1.1982 to 31.12.1989 and Rs.15 per month w.e.f. 1.1.1990 onwards have been prepared for the year 2014 and a copy of the table is enclosed. 

Another Table of Benefits for the savings fund based on a subscription of Rs.10 per month for those employees who had opted out of the revised rates of subscription w.e.f. 1.1.1990 have also been drawn up for the year 2014 and a copy of that table is also enclosed. The amounts in the Tables have been worked out on the basis of interest @ 10% per annum(compounded quarterly) for the period from 1.1.1982 to 31.12.1982, 11% per annum (compounded quarterly) w.e.f 1.1.1983 to 31.12.1986, 12% per annum (compounded quarterly) w.e.f. 1.1.1987 to 31.12.2000, 11% per annum (compounded quarterly) w.e.f. 1.1.2001 to 31.12.2001, 9.5% per annum (compounded quarterly) w.e.f. 1.1.2002 to 31.12.2002, 9.0% per annum(compounded quarterly) w.e.f. 1.1.2003 to 31.12.2003, 8% per annum (compounded quarterly) w.e.f. 1.1.2004 to 30.11.2011, 8.6% per annum (compounded quarterly) w.e.f 1.12.2011 to 31.03.2012, 8.8% per annum (compounded quarterly) w.e.f. 1.04.2012 to 31.03.2013 and 8.7 % per annum (compounded quarterly) w.e.f. 01.04.2013 onwards. 

The mortality rate under the Scheme has been taken as 3.75 per thousand per annum up to 31.12.1987 and 3.60 per thousand per annum thereafter in both the cases. While calculating the amount it has been assumed that the subscription has been recovered or will be recovered from the salary of the month in which a member ceases to be in service failing which it should be deducted from accumulated amounts payable.

2. In its application to the employees of Indian Audit and Accounts Department this Office Memorandum issues in consultation with the Comptroller and Auditor General of India.

sd/-
(VIJAY KUMAR SINGH)
DIRECTOR

Click for the tables...
Contribution Rs.10 throughout
Contribution Rs.10 and Rs.15

Source : www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_expenditure/notification/cgegis/CGEISTable08012014.pdf]

Related posts...

Wednesday, May 16, 2012


Related Posts...

Recent Stories...



Disclaimer

90Paisa - Dedicated to Central Government Employees and Pensioners. As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Recent Posts