CGEGIS: Table of benefits for savings fund form 01.10.2020 to 31.12.2020 – Finmin Om dated 27.11.2020
No.7(2)/EV/2016
Government of India
Ministry of Finance
Department of Expenditure
*******
New Delhi, the 27th November, 2020
OFFICE MEMORANDUM
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 (CGEGIS-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 the Insurance Regulatory & Development Authority (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 01.01.1982 to 31.12.1989 and Rs.15 p.m. w.e.f. 01.01.1990 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. 01.01.1990.
3. While these orders are in respect of Table of Benefits for the period from 01.10.2020 to 31.10.2020, the Table already issued for the first quarter i.e from 01.01.2020 to 31.03.2020 and 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 of the Indian Audit & Accounts Department, these orders are issues under Article 148(5) of the Constitution and after consultation with the Comptroller & Auditor General of India.
5. Hindi version of the order is attached.
(B. K. Manthan)
Deputy Secretary to the Government of India
To ,
- All Ministries/Departments of the Central Government as per standard list.
- Copy with spare copies for information and necessary action to C&AG, UPSC, all State Governments etc. as per standard list
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