GISS, 1987 – Table of Benefits upto April, 2022

GISS, 1987 – Table of Benefits upto April, 2022

WB FINANCE (CLICK HERE)

GROUP INSURANCE SAVINGS SCHEME (CLICK HERE)

 

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No.- 192-F(J)-W.B. Date: 31/01/2022

MEMORANDUM

SUBJECT: State Government Employees Group Insurance Scheme, 1987-Table of Benefits under Savings Fund for the year of cessation of Membership 2021-2022.

In continuation of this Department’s Memo No. 2518-F(J)W.B. dated 17.12.2021, the undersigned is directed to say that a new table of benefits showing accumulation of savings fund under the above mentioned scheme corresponding to a unit subscription of Rs. 10/- (Rupees Ten) only per month has been drawn up for the period from 01.02.2022 to 30.04.2022 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 29th June, 2021.

2. A copy of the said table is enclosed herewith as ready-reckoner. The figures have been worked out on the basis of the rate of interests as follows:-

From To Interest p.a. (compounded quarterly) From To Interest p.a. (compounded quarterly)
01.11.1987 31.10.2001 12% 01.05.2018 31.10.2018 7.8%
01.11.2001 31.10.2002 11% 01.11.2018 31.07.2019 7.6%
01.11.2002 31.10.2003 9.5% 01.08.2019 30.04.2020 8%
01.11.2003 31.10.2004 9% 01.05.2020 31.10.2020 7.9%
01.11.2004 31.10.2012 8.0% 01.11.2020 31.01.2021 7.9%
01.11.2012 31.10.2013 8.6% 01.02.2021 30.04.2021 7.1%
01.11.2013 31.10.2014 8.8% 01.05.2021 31.07.2021 7.1%
01.11.2014 31.10.2017 8.7% 01.08.2021 31.10.2021 7.1%
01.11.2017 31.01.2018 8.0% 01.11.2021 31.01.2022 7.1%
01.02.2018 30.04.2018 7.9% 01.02.2022 30.04.2022 7.1%

The mortality rate continues to remain unchanged.

3. The amounts shown in the table are applicable (with the fractions) for one unit and to be rounded off after calculating the final amount payable.

4. The amounts shown in the table are applicable to a member of Group-D category. Corresponding amounts for the member of higher groups may be calculated proportionately.

5. It is assumed that subscriptions have fully been realized from salary up to the month in which a member ceases to be in service, failing the same shall be deducted with interest from his/her entitlement.

Joint Secretary to the Government of West Bengal

ENCLOSURE TO THE FINANCE DEPARTMENT MEMO NO: 192-F(J)-WB DATED: 31/01/2022

TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987 FOR SUBSCRIPTION @ RS. 10/- PER MONTH, YEAR OF CESSATION 2021-2022

MONTH OF CESSATION FROM FEBRUARY 2022 To APRIL 2022

YEAR OF ENTRY February, 2022 March, 2022 April, 2022
1987 20432.58 20559.77 20687.70
1988 18246.56 18360.88 18475.88
1989 16269.15 16371.84 16475.14
1990 14509.16 14601.51 14694.39
1991 12944.57 13027.71 13111.34
1992 11556.27 11631.24 11706.66
1993 10326.63 10394.37 10462.51
1994 9229.21 9290.50 9352.14
1995 8255.20 8310.75 8366.64
1996 7391.36 7441.84 7492.61
1997 6624.49 6670.46 6716.69
1998 5941.36 5983.31 6025.50
1999 5333.15 5371.52 5410.12
2000 4800.46 4835.69 4871.14
2001 4323.88 4356.31 4388.94
2002 3895.16 3925.07 3955.16
2003 3508.53 3536.16 3563.96
2004 3155.62 3181.18 3206.89
2005 2831.07 2854.73 2878.52
2006 2531.24 2553.13 2575.15
2007 2254.24 2274.50 2294.88
2008 1998.34 2017.10 2035.96
2009 1761.93 1779.29 1796.76
2010 1543.51 1559.59 1575.77
2011 1341.74 1356.63 1371.61
2012 1155.18 1168.97 1182.85
2013 983.75 996.54 1009.40
2014 826.48 838.34 850.27
2015 682.24 693.25 704.33
2016 549.89 560.13 570.42
2017 428.46 437.98 447.56
2018 316.59 325.45 334.36
2019 212.95 221.20 229.50
2020 117.09 124.78 132.52
2021 28.25 35.41 42.62

 

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No. 192-F dated 31.01.2022, Source

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