Government of India,
Ministry of Finance
Department of Expenditure
No. 7(1)/EV/2010
Dated: 31st January ,2011.
Subject: 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.
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 2011.
Another table of Benefits for the savings fund based on a subscription of Rs. 10 per month for the employees who had opted out of the revised rates of subscription w.e.f 1.1.1990 have also drawn up for the year 2011.
The amounts in the tables have been worked out on the basis of interest @ 10% per annum for the period from 1.1.1982 to 31.12.1982, 11% per annum (compounded quarterly) w.e.f 1.1.2001 to 31.12.2001, 9.5% per annum w.e.f 1.1.2002 to 31.12.2002, 9% per annum w.e.f 1.1.2003 to 31.12.2003 and 8% annum w.e.f 1.1.2004 onwards.
The mortality rate under the scheme has been taken as 3.75 per thousand per annum up to 31.12.1987 and 3.6 per thousand per annum thereafter in both the cases.
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