GISS, 1987 – Table of Benefits upto April, 2023

GISS, 1987 – Table of Benefits upto April, 2023

 

WB FINANCE (CLICK HERE)

GROUP INSURANCE SAVINGS SCHEME (CLICK HERE)

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

 

No. 002-F (J)-W.B. Date: 17.02.2023

MEMORANDUM

SUBJECT: State Government Employees Group Insurance Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of Membership 2022-2023 & 2023-2024.

In continuation of this Department’s Memo No 3173-F(J)W.B. dated 21.11.2022, 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 01.02.2023 to 30.04.2023 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 12th September, 2022.

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% 01.08.2019 30.04.2020 8%
01.11.2001 31.10.2002 11% 01.05.2020 31.10.2020 7.9%
01.11.2002 31.10.2003 9.5% 01.11.2020 31.01.2021 7.9%
01.11.2003 31.10.2004 9% 01.02.2021 30.04.2021 7.1%
01.11.2004 31.10.2012 8.0% 01.05.2021 31.07.2021 7.1%
01.11.2012 31.10.2013 8.6% 01.08.2021 31.10.2021 7.1%
01.11.2013 31.10.2014 8.8% 01.11.2021 31.01.2022 7.1%
01.11.2014 31.10.2017 8.7% 01.02.2022 30.04.2022 7.1%
01.11.2017 31.01.2018 8.0% 01.05.2022 31.07.2022 7.1%
01.02.2018 30.04.2018 7.9% 01.08.2022 31.10.2022 7.1%
01.05.2018 31.10.2018 7.8% 01.11.2022 31.01.2023 7.1%
01.11.2018 31.07.2019 7.6% 01.02.2023 30.04.2023 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

TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987 FOR SUBSCRIPTION @ RS. 10/- PER MONTH, YEAR OF CESSATION 2022-2023 & 2023-2024. MONTH OF CESSATION FROM FEBRUARY, 2023 TO APRIL, 2023.

YEAR OF ENTRY February, 2023 (In Rupees) March, 2023 (In Rupees) April, 2023 (In Rupees)
1987 22009.15 22145.61 22282.87
1988 19663.74 19786.40 19909.78
1989 17542.15 17652.33 17763.16
1990 15653.84 15752.91 15852.57
1991 13975.17 14064.37 14154.09
1992 12485.64 12566.08 12646.99
1993 11166.34 11239.02 11312.13
1994 9988.91 10054.66 10120.81
1995 8943.88 9003.48 9063.44
1996 8017.06 8071.22 8125.69
1997 7194.27 7243.59 7293.20
1998 6461.33 6506.34 6551.61
1999 5808.78 5849.95 5891.35
2000 5237.24 5275.05 5313.08
2001 4725.92 4760.71 4795.72
2002 4265.94 4298.03 4330.31
2003 3851.11 3880.77 3910.59
2004 3472.48 3499.90 3527.49
2005 3124.27 3149.64 3175.17
2006 2802.57 2826.06 2849.68
2007 2505.38 2527.12 2548.98
2008 2230.82 2250.94 2271.18
2009 1977.16 1995.79 2014.53
2010 1742.83 1760.08 1777.43
2011 1526.34 1542.32 1558.39
2012 1326.17 1340.97 1355.86
2013 1142.25 1155.97 1169.77
2014 973.51 986.23 999.04
2015 818.75 830.57 842.45
2016 676.76 687.74 698.78
2017 546.47 556.69 566.96
2018 426.44 435.95 445.51
2019 315.25 324.10 333.01
2020 212.40 220.65 228.95
2021 117.08 124.77 132.50
2022 28.25 35.41 42.62

Joint Secretary
to the Government of West Bengal

 

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No. 002-F dated 17.02.2023Source

kamaleshforeducation.in(2023)  

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