CGEGIS Tables 2017: Period From 01.04.2017 to 30.06.2017 – Tables of Benefits for the savings fund

CGEGIS Tables 2017: Period From 01.04.2017 to 30.06.2017 – Tables of Benefits for the savings fund

CGEGIS Tables 2017: Period From 01.04.2017 to 30.06.2017 – Tables of
Benefits for the savings fund *** No.7(2)/EV/2016, Government of India,
Ministry of Finance, Department of Expenditure, New Delhi, the 2nd June,
2017 ** OFFICE MEMORANDUM ** Sub: Central Government Employees Group
Insurance Scheme-1980 – Tables of Benefits for the savings fund for the
period from 01.04.2017 to 30.06.2017.

No.7(2)/EV/2016
Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 2nd June, 2017
OFFICE MEMORANDUM
 

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables
of Benefits for the savings fund for the period from 01.04.2017 to
30.06.2017. 
 
Ministry of Finance issues two Table of Benefits on quarterly basis for the
savings fund to the beneficiaries under Central Government Employees Group
Insurance Scheme (CGEGIS)-1980. While one Table of Benefits for the savings
fund of the scheme is based on a subscription of Rs.10 per month per unit
from 1.1.1982 to 31.12.1989 and Rs.15 per month per unit w.e.f. 1.1.1990
onwards, the other Table of Benefits for the savings fund is based on a
subscription of Rs.10 per month in respect of the employees who had opted
out of the revised rates of subscription w.e.f. 1.1.1990. 
2. 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. 
3. The two tables under CGEGIS-80 for the first quarter of the year 2017
i.e, 01.01.2017 to 30.06.2017, prepared by IRDA, are enclosed. The benefits
in the Tables have been worked out on the basis of interest @ 7.9% per
annum (compounded quarterly), as notified by Department of Economic
Affairs. 
4. 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. 
5. 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.
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(Amar Nath Singh)
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