GISS, 1987 – Table of Benefits upto January, 2022

GISS, 1987 – Table of Benefits upto January, 2022

WB FINANCE (CLICK HERE)

GROUP INSURANCE SAVINGS SCHEME (CLICK HERE)

 

 

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No.- 2518-F(J)-W.B. Date: 17/12/2021

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. 1503-F(J)NB dated 16.08.2021, 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 01.11.2021 to 31.01.2022 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 15.02.2021.

  1. 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 31.10.200 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%

The mortality rate continues to remain unchanged.

  1. 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.
  2. 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.
  3. 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.

Assistant Secretary to the
Government of West Bengal

ENCLOSURE TO THE FINANCE DEPARTMENT MEMO NO: 2518-F(J)-WB DATED:- 17.12.2021

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 NOVEMBER 2021 To JANUARY 2022

YEAR OF ENTRY November 2021 December 2021 January 2022
1987 20055.47 20180.44 20306.14
1988 17907.57 18019.91 18132.90
1989 15964.65 16065.56 16167.05
1990 14235.36 14326.09 14417.36
1991 12698.05 12779.74 12861.91
1992 11333.97 11407.63 11481.73
1993 10125.77 10192.33 10259.28
1994 9047.49 9107.71 9168.28
1995 8090.47 8145.05 8199.96
1996 7241.70 7291.29 7341.18
1997 6488.20 6533.37 6578.80
1998 5816.98 5858.20 5899.66
1999 5219.38 5257.08 5295.01
2000 4695.98 4730.60 4765.43
2001 4227.71 4259.58 4291.63
2002 3806.47 3835.86 3865.42
2003 3426.58 3453.74 3481.05
2004 3079.83 3104.95 3130.21
2005 2760.94 2784.18 2807.56
2006 2466.34 2487.85 2509.48
2007 2194.17 2214.08 2234.10
2008 1942.73 1961.16 1979.70
2009 1710.44 1727.50 1744.66
2010 1495.84 1511.64 1527.53
2011 1297.58 1312.21 1326.93
2012 1114.27 1127.83 1141.46
2013 945.84 958.40 971.04
2014 791.31 802.96 814.68
2015 649.58 660.40 671.29
2016 519.55 529.60 539.72
2017 400.23 409.59 419.00
2018 290.31 299.02 307.78
2019 188.48 196.59 204.74
2020 94.30 101.85 109.45
2021 7.00 14.04 21.12

Assistant Secretary to the
Govt. of West Bengal

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