Department of Expenditure, Ministry of Finance vide its OM No.7(2)/EV/2016 dated 22, July, 2021 has issued Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.07.2021 to 30.09.2021
The content of the OM is given below
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 01.07.2021 to 30.09.2021, 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 05.07.2021, 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 their application to the employees belonging to Indian Audit and Accounts Department, these orders are issued under Article 148(5) of the Constitution and after consultation with the Comptroller & Auditor General of India.