CENTRAL GOVERNMENT EMPLOYEES GROUP INSURANCE SCHEME 1980

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Simplification of procedure for payment of Central Government Employees Group Insurance Scheme (CGEGIS) dues

Finance Ministry OM on Simplification of procedure for payment of CGEGIS) dues without delay especially in the cases of missing entries

Department of Expenditure OM on Simplification of procedure for payment of CGEGIS) dues

No.7(1)/EV/2016

Government of India

Ministry of Finance

Department of Expenditure

New Delhi, Dated the 17th March, 2017

OFFICE MEMORANDUM

Sub: Simplification of procedure for payment of Central Government Employees Group Insurance Scheme (CGEGIS) dues – regarding

It has been brought to the notice of this Department that in a number of cases delay occurs in payment of Central Government Employees Group Insurance Scheme (CGEGIS) dues, owing to missing entries, despite the fact that a provision has made for making entries of subscription for CGEGIS, recovered from pay & allowances every year in Part- VII-C of the service book.

2. In terms of para 8.1 Of the Central Government Employees Group Insurance Scheme, 1980, as contained in this O.M. No. F.7(5)-EV/89 dated 15th May, 1989, which relates to Savings Fund of the Scheme, the total accumulation of savings together with interest thereon will be payable to the member on retirement or on cessation of his employment with the Central Government or to his family on his death while in service. The total accumulation under Savings Fund is provided for in terms of the applicable Table of Benefits pertaining to a particular year as prescribed under the relevant Orders issued by this Ministry from time to time.

3. The issue has been considered in consultation with Department of Pension & Pensioners’ Welfare and Controller General of Accounts. It has been decided that in order to ease the process of payment of Savings Fund on account of CGEGIS at the time of retirement Of a Central Government employee, in all cases where the service of the retiring Central Government employee has been verified, payment of the accumulation under Savings Fund of CGEGIS be made without awaiting confirmation of deduction of each monthly subscription of CGEGIS, as service verification is carried out based on the monthly salary payment and the CGEGIS subscriptions are mandatory deductions from these payments.

4. All Ministries/ Departments are accordingly advised to ensure compliance of above instructions so that the dues of CGEGIS in respect Of Government servants retiring on attaining the age of superannuation are discharged with due promptness. Further, it may be ensured that Ministries/ Departments send their budget requirements for payments under CGEGIS to CCA (Finance) well in advance, preferably, at the time of RE/ BE so that the budget under this head is made on a realistic basis.

(Amar Nath Singh)

Director

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CGEGIS – Central Government Employees Group Insurance Scheme – Table of Benefits – from 01.01.2017 to 31.03.2017

CGEGIS Table for the period from 1.1.2017 to 31.3.2017

No.7(2)/EV/2016

Government of India

Ministry of Finance

Department of Expenditure

New Delhi, Dated the 17th March, 2017

OFFICE MEMORANDUM

Sub: 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.

Every year two Table of Benefits are issued by the Ministry of Finance on calendar year 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 employees 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 small 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 31.03.2017, prepared by IRDA, are enclosed. The benefits in the Tables have been worked out on the basis of interest @ 8% 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.

(Amar Nath Singh)

Director

Download Finance Ministry OM No.7(2)/EV/2016 dated 17.03.2017

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