The Central Government Employees Group Insurance Scheme-1980 (CGEGIS 1980) has released Tables of Benefits for the savings fund for the period from 01.07.2023 to 30.09.2023. These tables provide information on the benefits available to beneficiaries under the scheme.
The interest rate used for calculations is 7.1% per annum, compounded quarterly, as per the Department of Economic Affairs’ notification. These tables are issued on a quarterly basis and are important for Central Government employees participating in the CGEGIS 1980 scheme.
Central Government Employees Group Insurance Scheme-1980
No. 7(1)/EV/2023
Government of India
Ministry of Finance
Department of Expenditure
E-V Branch
New Delhi, the 29th/30th August, 2023
OFFICE MEMORANDUM
Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.07.2023 to 30.09.2023.
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 01.07.2023 to 30.09.2023, 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(3)-B(PD)/2023 dated 04.07.2023, are enclosed.
- 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.
- In so far as the persons serving in the Indian Audit and Accounts Department are concerned, these Orders are issued in consultation with the Comptroller and Auditor General of India, as mandated under Article 148(5) of the Constitution of India.
- Hindi version of these orders is attached.
(B. K. Manthan)
Deputy Secretary to the Government of India