Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2020 to 31.12.2020
No. 7(2)/ EN / 2016
Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 27 November, 2020
OFFICE MEMORANDUM
Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2020 to 31.12.2020.
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 01.10.2020 to 31.12.2020, as worked out by IRDA based on the interest rate of 7.1% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(2)-B(PD)/2020 dated 27.10.2020, 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 01.10.2020 to 31.12.2020, the Tables already issued for the first quarter i.e. from 01.01.2020 to 31.03.2020, second quarter i.e. from 01.04.2020 to 30.06.2020 and 3rd quarter i.e. 01.07.2020 to 30.09.2020 are also reproduced for the sake of convenience and consolidation.
4. In their application to the employees belonging to Indian Audit and Accounts Department, these orders are issued under Article 148(5) of the Constitution and after consultation with the Comptroller & Auditor General of India.
5. Hindi version of these orders is attached.
(B. K. Manthan)
Deputy Secretary to the Government of India
