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
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]
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]
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