RBE No. 16/2000: Central Government Employees Group Insurance Scheme – CGEGIS

No.PC-III/87/GIS/1, dated 25.01.2000

Sub: Central Government Employees Group Insurance Scheme, 1980 – Table of Benefits for the Saving Fund for the period from 01.01.2000 to 31.12.2000.

In continuation of this Ministry’s letter of even number dated 04.06.1999 a copy of OM No.7(2)/EV/99, dated 19.01.2000 of the Ministry of Finance, Department of Expenditure; on the above subject is forwarded herewith for information and necessary action. 

Department of Expenditure

OM No.7(2)/EV/99, dated 19.01.2000

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme, 1980 – Tables of Benefits for the savings fund for the period from 01.01.2000 to 31.12.2000.

1.     The undersigned is directed to refer to this Ministry’s OM of even No. dated 14^th May, 1999 forwarding therewith Tables of Benefits under CGEGIS for the year 1999. New Tables of Benefits for the savings fund of the Scheme based on a subscription of Rs.10 per month from 01.01.1982 to 31.12.1989 and Rs.15 per month w.e.f. 01.01.1990 onwards have been prepared for the year 2000 and a copy of the same 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. 01.01.1990 have also been drawn up for the year 2000 and a copy of the same 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 01.01.1982 to 31.12.1982, 11% per annum (compounded quarterly) w.e.f. 01.01.1983 to 31.12.1986 and 12% per annum (compounded quarterly) w.e.f. 01.01.1987 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 Account Department this Office Memorandum issues in consultation with the Comptroller and Auditor General of India. 

Download Railway Board Circular RBE No. 16/2000

Forward reference ⇒ RBE No.