GISS, 1987 – Table of Benefits upto July, 2022

GISS, 1987 – Table of Benefits upto July, 2022

WB FINANCE ( CLICK HERE)

GROUP INSURANCE SAVINGS SCHEME(CLICK HERE)

 

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No.- 1238-F(J)-WB. Date: 20.05.2022

MEMORANDUM

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

In continuation of this Department’s Memo No 192-F(J)NB dated31.01.2022, 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 01.05.2022 to 31.07.2022 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 22nd July, 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% 01.11.2018 31.07.2019 7.6%
01.11.2001 31.10.2002 11% 01.08.2019 30.04.2020 8%
01.11.2002 31.10.2003 9.5% 01.05.2020 31.10.2020 7.9%
01.11.2003 31.10.2004 9% 01.11.2020 31.01.2021 7.9%
01.11.2004 31.10.2012 8.0% 01.02.2021 30.04.2021 7.1%
01.11.2012 31.10.2013 8.6% 01.05.2021 31.07.2021 7.1%
01.11.2013 31.10.2014 8.8% 01.08.2021 31.10.2021 7.1%
01.11.2014 31.10.2017 8.7% 01.11.2021 31.01.2022 7.1%
01.11.2017 31.01.2018 8.0% 01.02.2022 30.04.2022 7.1%
01.02.2018 30.04.2018 7.9% 01.05.2022 31.07.2022 7.1%
01.05.2018 31.10.2018 7.8%

The mortality rate continues to remain unchanged.

3. The amounts shown in the table arc 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: 1238-F(J)-WB DATED:- 20.05.2022

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

MONTH OF CESSATION FROM MAY 2022TO JULY 2022.

In Rupees

YEAR OF ENTRY MAY 22 (In Rupees) JUNE 22 (In Rupees) JULY 22 (In Rupees)
1987 20816.38 20945.83 21076.03
1988 18591.56 18707.91 18824.95
1989 16579.05 16683.57 16788.70
1990 14787.82 14881.81 14976.34
1991 13195.46 13280.07 13365.19
1992 11782.51 11858.82 11935.57
1993 10531.05 10599.99 10669.34
1994 9414.15 9476.53 9539.27
1995 8422.85 8479.39 8536.27
1996 7543.68 7595.06 7646.73
1997 6763.20 6809.98 6857.04
1998 6067.94 6110.63 6153.58
1999 5448.94 5487.99 5527.27
2000 4906.79 4942.65 4978.72
2001 4421.75 4454.76 4487.96
2002 3985.42 4015.87 4046.49
2003 3591.93 3620.05 3648.35
2004 3232.76 3258.77 3284.94
2005 2902.45 2926.52 2950.74
2006 2597.30 2619.57 2641.98
2007 2315.38 2336.00 2356.74
2008 2054.94 2074.02 2093.22
2009 1814.32 1832.00 1849.77
2010 1592.04 1608.40 1624.86
2011 1386.68 1401.83 1417.08
2012 1196.80 1210.84 1224.97
2013 1022.34 1035.35 1048.44
2014 862.27 874.34 886.48
2015 715.47 726.68 737.95
2016 580.78 591.19 601.67
2017 457.19 466.88 476.63
2018 343.33 352.35 361.42
2019 237.85 246.25 254.70
2020 140.30 148.12 155.99
2021 49.87 57.17 64.50

Joint Secretary to the
Government of West Bengal

 

DOWNLOAD ORDER COPY:-

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No. 1238-F dated 20.05.2022Source

kamaleshforeducation.in(2023)  

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