Posts Tagged ‘savings fund’

Central Government Employees Group Insurance Scheme, 1980 – Tables of Benefit for the Savings Fund for the period from 01.04.2018 to 30.06.2018

Advertisement

Central Government Employees Group Insurance Scheme, 1980 – Tables of Benefit for the Savings Fund for the period from 01.04.2018 to 30.06.2018

NFIR

RBE No. 98/2018

New Delhi, dated 28.06.2018

No.PC-III/2000/GIS/2

The General Managers,
All Zonal Railways & PUs
(As per mailing list).

Sub: Central Government Employees Group Insurance Scheme, 1980 – Tables of Benefit for the Savings Fund

The Table of Benefits under CGEGIS-1980 for the period 01-01-2018 to 31-03-2018 issued by Ministry of Finance vide their OM dated 27-02-2018 was circulated to Zonal Railways/production Units etc. vide Board’s letter of even number dated 02-04-2018.

In continuation of Board’s letter ibid, a copy of Ministry of Finance’s OM No,7(2)/EV/2016 dated 25-05-2019 circulating Tables of benefits for the period from 01-04-2018 to 30-06-2018 is enclosed herewith and necessary action.

DA: AS above

(M.K.Panda)
Joint Director, Pay Commission
Railway Board

Source: NFIR

Download Central Government Employees News iOS App . Click here Cg News for iPhone, iPad & iPod Touch app to download in your device.
Stay updated on the go with CENTRAL GOVERNMENT NEWS App. Click here Cg news for Phones app to download it for your device.

Be the first to comment - What do you think?  Posted by admin - July 8, 2018 at 7:49 pm

Categories: Employees News   Tags: , , ,

Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.07.2017 to 30.09.2017

Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.07.2017 to 30.09.2017.

central-government-employees-group-insurance-scheme

No.7(2)/EV/2016
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the September 6,2017

Office Memorandum

Sub: Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.07.2017 to 30.09.2017.

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 l.1.20 17 onwards, as brought out in ‘ this Ministry’s OM of even number dated 17.3 .2017, for the quarter from l.7.2017 to 30.9.2017, as worked out by IRDA based on the interest rate of 7 .8% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(1)-B(PD)/2017 dated 17.7.2017, 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. froml.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 l.7.2017 to 30.9.2017, the Tables already issued for the quarters from 1.1.2017 to 31.3.2017 and from 1.4.2017 to 30.6.2017 are also reproduced for the sake of convenience and consolidation.

4. In their application to the employees of Indian Audit and Accounts Department, these orders are issued after consultation with the Comptroller & Auditor General of India.

5. Hindi version of these orders is attached.

(Amar Nath Singh)
Director

To
1. All Ministries / Departmen t of the Central Government as per standard list.

2. Copy with spare copies for information and necessary action to C&AG, UPSC, all State Government etc. as per standard list.

3. NIC, Department of Expenditure – for uploading the same on the website of Ministry of Finance, Department of Expenditure.

Source: doe.gov.in – DOWNLOAD PDF

Be the first to comment - What do you think?  Posted by admin - September 16, 2017 at 11:00 am

Categories: Employees News   Tags: , , , ,

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

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.

Central-Government-Employees-Group-Insurance-Scheme-CGEGIS

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 employess 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.

sd/-
(Amar Nath Singh)
Director

Authority: www.finmin.nic.in

Click to view the original order

Be the first to comment - What do you think?  Posted by admin - June 5, 2017 at 6:26 pm

Categories: Employees News   Tags: , ,

CGEGIS Table 2015 issued

CGEGIS Table 2015: Central Government Employees Group Insurance Scheme-1980 — Tables of Benefits for the savings fund for the period from 01.01.2015 to 31.12.2015.

No.7(1)/EV/2014
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the 22nd January, 2015

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 — Tables of Benefits for the savings fund for the period from 01.01.2015 to 31.12.2015.
The undersigned is directed to refer to this Ministry’s O.M. No.7 (1)/EV12013 dated 8th January, 2014 forwarding therewith Tables of Benefits under CGEGIS for the year 2014.

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 2015 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 2015 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.

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.

(VIJAY KUMAR SINGH)
DIRECTOR


CGEGIS Table 2015 for Rs. 10 and 15 Subscription


CGEGIS Table 2015 for Rs. 10 Subscription trhougout

Source: http://finmin.nic.in/the_ministry/dept_expenditure/notification/CGEGIS/CGEGISTables23012015.pdf

Be the first to comment - What do you think?  Posted by admin - January 24, 2015 at 8:39 am

Categories: Employees News, General news, Latest News   Tags: , , ,