CGEGIS – CG Staff News

CGEGIS 1980 – Tables of Benefits for the savings fund for the period 01.07.2019-30.09.2019

Sony — Sun, 18 Aug 2019 03:56:55 +0000

CGEGIS Savings Fund Benefit Table from July to September 2019

Central Government Employees Group Insurance Scheme 1980

Tables of Benefits for the savings fund for the period 01.07.2019-30.09.2019

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

New Delhi, the 13th August 2019

Office Memorandum

Sub: Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.07.2019 to 30.09.2019.

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 01.07.2019 to 30.09.2019, as worked out by IRDA based on the interest rate of 7.9% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No.5(2)-B(PD)/ 2019 dated 12.07.2019, are enclosed.

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 .07.2019 to 30.09.2019, the Tables already issued for the first quarter and second quarter i.e. for the period 01 .01.2019 to 30.06.2019 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.

sd/-
(Amar Nath Singh)
Director

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CGEGIS Tables of Benefits for the savings fund from 1.7.2018 to 30.9.2018

Sony — Wed, 05 Sep 2018 06:13:59 +0000

CGEGIS Benefit Table from July to Sep 2018

Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 1.7.2018 to 30.9.2018

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

New Delhi, the 4th September, 2018

OFFICE MEMORANDUM

Sub: 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

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 01.07.2018 to 30.09.2018, as worked out by IRDA based on the interest rate of 7.6% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. dated 17.07.2018, are enclosed.

Check Office Memorandum issued by Finmin dated 17.3.2017

The second Table of Benefits for savings fund is based on a subscription of Rs. 10 p.m. those employees who had opted out of the revised rate of subscription w.e.f. 1.1.1990. [Click to view the Benefit Table]

3. While these orders are in respect of Table of Benefits for the period from 01.07.2018 to 30.09.2018, the Tables already issued for the first quarter and second quarter i.e. for the period 01.01.2018 to 30.06.2018 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

View more detail

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

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Central Government Employees Group Insurance Scheme Tables

Sony — Wed, 11 Jul 2018 12:02:32 +0000

Central Government Employees Group Insurance Scheme Tables

Central Government Employees Group Insurance Scheme Tables of Benefits for the savings fund

Title	Download	Date
Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 1.4.2018 to 30.6.2018	Download	25/05/2018
Central Government Employees Group Insurance Scheme-1980-Table of Benefits for the saving fund for the period from 01.10.2017 to 31.12.2017	Download	23/11/2017
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	Download	06/09/2017
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	Download	05/06/2017
Simplification of procedure for payment of Central Government Employees Group Insurance Scheme (CGEGIS) dues- regarding	Download	17/03/2017
Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 01.01.2017 to 31.03.2017	Download	17/03/2017
Central Government Employees Group Insurance Scheme, 1980 – Updating of the Scheme	Download	06/10/2016
Table for Central Government Employees Group Insurance Scheme 1980 – – Tables of Benefits for the savings fund for the period from 1.1.2016 to 31.12.2016	Download	26/02/2016
Table for Central Government Employees Group Insurance Scheme 1980 – – Tables of Benefits for the savings fund for the period from 1.1.2015 to 31.12.2015	Download	23/01/2015
Table for Central Government Employees Group Insurance Scheme 1980 – – Tables of Benefits for the savings fund for the period from 1.1.2014 to 31.12.2014	Download	08/01/2014
Table for Central Government Employees Group Insurance Scheme 1980 – – Tables of Benefits for the savings fund for the period from 1.1.2013 to 31.12.2013	Download	15/01/2013
Table for Central Government Employees Group Insurance Scheme 1980 – – Tables of Benefits for the savings fund for the period from 1.1.2012 to 31.12.2012	Download	10/05/2012
Table for Central Government Employees Group Insurance Scheme 1980	Download	31/01/2011
Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 1.1.2011 to 31.12.2011	Download	31/01/2011
Rate of monthly subscription and insurance cover under CGEGIS-1980 for erstwhile Group ‘D’ employees placed in PB-1, Grade Pay Rs. 1800/- and classified as Group ‘C’	Download	10/09/2010
Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 1.1.2010 to 31.12.2010	Download	29/12/20

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

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CGEGIS 1980: Tables of Benefits from April 2018 to June 2018

Sony — Mon, 28 May 2018 08:07:29 +0000

CGEGIS 1980: Tables of Benefits from April 2018 to June 2018

“Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.04.2018 to 30.06.2018”

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

New Delhi, the 25th May, 2018

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.04.2018 to 30.06.2018.

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 01.04.2018 to 30.06.2018, as worked out by IRDA based on the interest rate of 7.6% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(1)-B(PD)/2018 dated 11.04.2018, are enclosed.

2. The Tables enclosed are of two categories as per the existing practice. As hitherto, the first Table of Benefits for the 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 01.04.2018 to 30.06.2018, the Tables already issued for the first quarter from 01.01.2018 to 31.3.2018 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

View table

Authority: https://doe.gov.in/

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Enhancement of Insurance Coverage under CGEGIS – BPMS

Sony — Sat, 07 Apr 2018 14:54:58 +0000

Enhancement of Insurance Coverage under CGEGIS – BPMS

Central Government Employees Group Insurance Scheme, 1980 was notified on 01/11/1980 and came into force with effect from the forenoon of 01/01/1982.

The `scheme’ is intended to provide for the Central Government employees, at a low cost and on a wholly contributory and self financing basis, the twin benefits of an insurance cover to help their families in the event of death in service and a lump-sum payment to augment their resources on retirement.

The rates of benefit under the scheme, till date is as under :

Category	Rates of monthly subscriptions(Rs.)		Insurance Coverage(Rs.)
	As on 31-01-1989	After 01-02-1989
A	40	120	1,20,000
B	20	60	60,000
C	10	30	30,000
D	05	15	15,000

Ever since then, except merging of Group “D” with Group “C” and subsequent change in subscriptions and coverage thereof, nothing has changed.

Taking cognizance of this static state of affairs, the 7th CPC in its recommendations commented under Para 9.3.7 The Commission also took note of the fact that the Tables of Benefits published by Ministry of Finance are based on the mortality rate of 3.75 per thousand per annum up to 31.12.1987 and 3.60 per thousand per annum thereafter. In its report (brought out in January 1997), the V CPC had pointed out that the mortality rate, life expectancy and health delivery systems have improved over a period of time. They had highlighted the need “for a detailed review of the current mortality rates with a view to revising the apportionment between the Savings and Insurance Funds.” Since it was likely to take some time, they had recommended a ratio of Savings Fund to Insurance Fund of 75:25, with “appropriate machinery for a periodical review of the mortality rates and adjustment of the apportionment ratio.”

Further, under Para 9.3.8 All the three factors viz., mortality rate, life expectancy and health delivery systems have further improved over the course of nearly twenty years following the V CPC recommendations. Accordingly, this Commission recommends that the ratio of Savings Fund to Insurance Fund be modified from the present 70:30 to 75:25, as an interim measure, pending a detailed review. It is also recommended that periodical reviews of mortality rates should be undertaken for suitable adjustment of the apportionment ratio. The Tables of Benefits may be modified accordingly.

After carefully examining all relevant aspects, the 7th CPC finally recommended the following as revised rates and benefits:

Level of Pay Matrix	Monthly Deduction (Rs.)	Insurance Amount (Rs.)
10 and above	5000	50,00,000
Between 06 to 09	2500	25,00,000
Between 01 to 05	1500	15,00,000

However, vide notification No.1-2/2016-IC dated 25/07/2016, it was announced that ”The Cabinet also decided not to accept the steep hike in monthly contribution towards Central Government Employees Group Insurance Scheme (CGEGIS) recommended by the Commission. The existing rates of monthly contribution will continue. This will increase the take home salary of employees at lower levels by Rs. 1470. However, considering the need for social security of employees, the Cabinet has asked Ministry of Finance to work out a customized group insurance scheme for Central Government Employees with low premium and high risk cover.”

However, in spite of lapse of more than 19 months, the concerned department is silent thus defeating the very purpose of the Government’s intention to replace the existing scheme with a customized group insurance scheme for Central Government Employees with low premium and high risk cover.

The Central Executing Committee of Bharatiya Pratiraksha Mazdoor Sangh, at its meeting held at Dehu Road (Pune) deliberated on this very serious issue and demands that the Government should immediately notify the customized group insurance scheme for Central Government Employees with low premium and high risk cover.

Resolved on this, 28th Day of March, 2018.

Source: BPMS

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