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

New Delhi, the 11 February, 2022

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.01.2022 to 31.03.2022.

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 01.01.2022 to 31.03.2022, 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(4)-B(PD)/2021 dated 03.01.2022, 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. 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.

4. Hindi version of these orders is attached.

(B. K. Manthan)
Deputy Secretary to the Government of India

To
1. All Ministries/Department 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.

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

New Delhi, the 12th September, 2022

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.07.2022 to 30.09.2022.

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 01.07.2022 to 30.09.2022, 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(4)-B(PD)/ 2021 dated 14.07.2022, 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. 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.

4. Hindi version of these orders is attached.

(Gulveena Badhan)
Deputy Secretary to the Government of India

Download Central Government Employees Group Insurance Scheme Table of Benefits for the period 01.07.2022 to 30.09.2022 PDF

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No.NC/JCM/2020

Date: June 18, 2020

The Secretary,
Department of Personnel & Training,
(Government of India),
North Block, New Delhi-110001

Dear Sir,

Sub: Central Government Employees Group Insurance Scheme (CGEGIS)

Ref.: (i) Customized CGEGIS, Dept. of Expenditure, MoF’s OM dated 07.12.2018
(ii) Brief on Customized Group Insurance Scheme (Dept. of Expenditure 06.05.2019)
(iii) Brief Note on CGEGIS (DoPT 06.05.2019)
(iv) Revised proposal for LIC’s customized Group Insurance(GI) for Central Government
Employees (13.09.2019)

1. Revision of Central Government Employees Group Insurance Scheme (CGEGIS) is long overdue since the rates of Sum Assured and the premium thereof continues to be the same since it was decided in 1990 inspite of much inflation and devaluation of money.

2.1. Arising out of 7th CPC recommendations and based on JCM (Staff Side) representation, the Union Cabinet had asked the Ministry of Finance to work out a Customized Group Insurance Scheme for Central Government Employees with low premium and high risk cover.

2.2. Staff Side had pointed out that the existing Scheme of CGEGIS is having a proven system. It is good except for non-revision of the scheme since 1990.

2.3. Subsequently, some of the Customized Group Insurance Scheme for Central Government Employees prepared by LIC was shared with the JCM (Staff Side).

3. Main drawbacks in LIC proposals: Staff Side finds following major flaws in the proposal submitted by LIC to Department of Expenditure:

3.1 LIC has not given any proposal for the sum assured of 50 lakh, 25 lakh and 15 lakh at lesser subscription compared to the recommended by 7th CPC, as advised by the Cabinet.

3.2 The existing system of CGEGIS is a self-financing scheme, having non-transferable consolidated fund. When handed over to LIC, it will be treated as a profit centre. Hence subscription and other conditions will be changed to provide profit to LIC.

3.3 LIC has proposed a premium(for insurance) 20% higher than 7th CPC recommendations. In addition to that,18% GST on the Subscription have to be borne by employees. Hence, employee will end up in contributing subscription 41.6% more than the recommendations of the 7th CPC.

3.4 LIC’s proposal of revising the subscription every year will be disadvantageous to the employee and as such not acceptable to the Staff Side.

3.5 LIC’s proposal of age based subscription increases monthly subscription by 4.28 times. It may result in different rates of premium for employees belonging to different age group working in the same pay level.

3.6 LIC also proposed for higher subscription if total number of employees covered in the scheme comes down. This will bring in total uncertainty as staff strength on roll continues to fluctuate due to retirement etc. and non-filling of vacancies.

3.7 LIC asked for transfer of existing corpus (around Rs.500 crore) which was most unreasonable, unprecedented and undesirable, particularly since it does not provide any matching relief to the employees in terms of lower premium.

3.8 Premium proposed to be charged by LIC was too high ,considering a very large group employees to be covered with a sanctioned strength of nearly 38.6 lakh Central Government employees in the CGEGIS.

3.9 a) In LIC’s Jeevan Amar Life Term Assurance Plan (UIN: 512N332V01), for the assured sum of Rs. 50 Lakh at the entry age of 20, annual premium is Rs.4,356, at the entry age of 30,it is Rs. 6,952. (The sample illustrative premiums for Jeevan Amar life term assurance plan is attached as Annexure-I).

b) Even after adding for Saving Fund under CGEGIS @ 3 times of the premium for Life Term Assurance Plan, the total amount of subscription for CGEGIS will be less than half of the monthly subscription proposed by the LIC and by the 7th CPC.

c) Monthly Subscription can be reduced by 20% when the scheme is applied for more than 30 lakh employees as a Group as per details given in Table-2, based on the Premium for Individual Term Insurance indicated in Table 1 below:-

Table-1: Monthly subscription in proportion to LIC’s Jeevan Amar Life Term Assurance Plan):

PROPOSED MONTHLY SUBSCRIPTION FOR CGEGIS (IN PROPORTION TO LIC’S JEEVAN AMAR TERM ASSURANCE PLAN) (#)

(#) Based on entry age of 30 years for Individual Term Insurance. (Premium amount rounded off to next hundred Rs.)
(##)7th CPC recommended a ratio of 75:25 for savings fund to insurance fund.

Table-2 Monthly subscription for Group Insurance @ 20% lesser than subscription charged by LIC for Individual Life Term Assurance (shown in table-1) plus savings Fund in the ratio 25:75

PROPOSED MONTHLY SUBSCRIPTION FOR CGEGIS – (20% LESS THAN
LIC’S JEEVAN AMAR TERM ASSURANCE PLAN’S PREMIUM) (#)

4. PROPOSALS OF THE STAFF SIDE

1.1. Staff Side proposes that for the sum assured recommended by 7th CPC the following rates of Monthly subscription @ 20% less than the Premium for Individual Term Insurance plus Savings Fund as derived in table-2 above.

Proposed monthly subscription for CGEGIS – (20% less than LIC’s Jeevan Amar Term Assurance Plan’s premium)

4.2 Monthly Subscriptions of Rs.1920, Rs.960 and Rs.640 for Sum Assured of Rs. 50 lakh, 25 lakh and 15 lakh for the Levels proposed by the 7th Pay Commission respectivelyand payable to the family of the deceased employee in case of an employee’s death.

4.3 Ratio of the Insurance Fund and Saving Fund should be 25% : 75% respectively.

4.4 In case of retirement, employees be paid a maturity benefit in proportion to the subscription, length of service and applicable interest rates.

4.5 The CGEGIS should continue to be handled by the Government as here to for.

4.6 The proposal to tie up with LIC should be dropped forthwith especially keeping in view the drawbacks in the proposal of LIC, as enlisted earlier in this letter,

4.7 The Revised Scheme, drawn after consideration of the above proposals, may please be discussed with the JCM Staff Side, and be finalised early as the revision thereof has already been delayed for too long.

Hoping for an early favourable decision on the long pending issue is solicited.

Encl: 1 Annexure

Copy: Secretary, Department of Expenditure, Ministry of Finance – for necessary action please.

Annexure I

LIC’s JEEVAN AMAR LIFE TERM ASSURANCE PLAN (UIN: 512N332V01)

The sample illustrative premiums for both Option I (Level Sum Assured) and Option II (Increasing Sum Assured) for Basic Sum Assured of Rs.50 Lakh.

Option I (Level Sum Assured):

Option II (Increasing Sum Assured):

Eligibility conditions and other Restrictions:

a) Minimum Age at entry: [18] years (Last Birthday)
b) Maximum Age at entry: [65] years (Last Birthday)
c) Maximum age at Maturity: [80] years (Last Birthday)
d) Minimum Basic Sum Assured: Rs. 25,00,000/-.
e) Maximum Basic Sum Assured: No Limit.The Basic Sum Assured shall be in multiples of: Rs. 1,00,000/-, if Basic Sum Assured for the policy is Rs.25,00,000/- to Rs. 40,00,000/-Rs. 10,00,000/-, if Basic Sum Assured for the policy is above Rs. 40,00,000/-.
f) Policy Term: [10 to 40] years
g) Premium Paying Term:Regular Premium: Same as policy term Limited Premium: [Policy Term minus 5] years for Policy Term [10 to 40] years : [Policy Term minus 10] years for Policy Term [15 to 40] years

Source: Confederation

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

New Delhi, the 29th May, 2019

OFFICE MEMORANDUM

Sub : Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.04.2019 to 30.06.2019.

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 01.04.2019 to 30.06.2019, as worked out by IRDA based on the interest rate of 8% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(2)-B(PD)/2019 dated 03.04.2019, 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 01.04.2019 to 30.06.2019, the Tables already issued for the first quarter i.e. for the period 01.01.2019 to 31.03.2019 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

Download the Table

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CGEGIS Table for 4th Quarter 2018 (from 01.10.2018 to 31.12.2018) of Benefits for the saving fund

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

New Delhi, the 10 December, 2018

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Table of Benefits for the savings fund for the period from 01.10.2018 to 31.12.2018.
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 01.10.2018 to 31.12.2018, as worked out by IRDA based on the interest rate or 8% per annum (compounded quarterly) as notified by the Department or Economic Affairs as per their Resolution No. 5(1)-B(PD)/2018 dated 04.10.2018, are enclosed.

2. The Tables enclosed are of two categories as per the existing practice. As hitherto the first Table of Benefits for the saving fund of the scheme is based on the subscription or 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 or Benefits for savings fund is based on a subscription of Rs.10 p.m. for those employees who hod opted out or the revised rate or subscription w.e.f. 1.1.1990.

3. While these orders are in respect of Table or Benefits for the period from 01.10.2018 to 31.12.2018, the Tables already issued for the first quarter, second quarter and third quarter i.e. for the period 01.01.2018 to 30.09.2018 are also reproduced for the sake 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.

Sd/-
(Amar Nath Singh)
Director

Source: doe.gov.in

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F.No.28-01/2018-PAP
Government of India
Ministry of Communications
Department of Posts

(Establishment Division)/PAP Section
Dak Bhawan, Sansad Marg, New Delhi – 110 001
Dated: 11th September, 2018.

To.

ALL CHIEF POSTMASTER GENERALs,
DIRECTOR, RAKNPA, GHAZIABAD,
ALL POSTMASTER GENERALs,
ALL DIRECTORS OF PTCs.

Subject: Central Government Employees Group Insurance Scheme, 1980 – Tables of Benefits for the Savings Fund for the period from 01.07.2018 to 30.09.2018 – reg.

I am directed to forward herewith a copy of the Ministry of Finance, Department of Expenditure’s OM No. 7(2)/EV/2016 dated 4th September, 2018, containing therewith the Tables of Benefits from the Savings Fund accumulations under the Central Government Employees Group Insurance Scheme, 1980 for the period from 1st July, 2018 to 30th September, 2018 (i.e. for the third Quarter) for information and necessary action.

(K. V. Vijayakumar)
Assistant Director General (Estt.)

Encl: As above.

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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

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

New Delhi, the 23 November, 2017

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2017 to 31.12.2017.

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 01.01.2017 onwards, as brought out in this Ministry’s OM of even number dated 17.03.2017, for the quarter from 01.10.2017 to 31.12.2017, 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 23.10.2017, 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. 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 01.10.2017 to 31.12.2017, the Tables already issued for the quarters from 1.1.2017 to 31.3.2017, from 1.4.2017 to 30.6.2017 and from 01.07.2017 to 30.09.2017 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.

sd/-
(Amar Nath Singh)
Director

Authority: http://www.doe.gov.in/

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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

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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

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