CGEGIS Table 2013 : CGEGIS Tables of Benefits for the savings fund for the period from 1.1.2013 to 31.12.2013
Central Government Employees Group Insurance Scheme 1980
- Tables of Benefits for the savings fund for the period from 1.1.2013
to 31.12.2013. Finance Ministry has issued an Office Memorandum
regarding that the CGEGIS tables of benefits for the savings fund for
the period from 1.1.2013 to 31.12.2013 on its website today, the text of
the order is given below for your information..
No.7(2)/EV/2012
Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 15th January, 2013
OFFICE MEMORANDUM
Sub: Central
Government Employees Group Insurance Scheme-1980 — Tables of Benefits
for the savings fund for the period from 01.01.2013 to 31.12.2013.
The
undersigned is directed to refer to this Ministry's O.M. No.7
(1)/EV/2012 dated 9th May, 2012 forwarding therewith Tables of Benefits
under CGEGIS for the year 2012. 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 2013 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 2013 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.I.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% A 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 3 1.03.2012 and 8.8%
per annum (compounded quarterly) w.e.f. 1.04.2012 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
Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_expenditure/notification/CGEGIS/CGEISTable15012013.pdf]
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