Group Insurance Scheme 1987 – Table of Benefits for year 2013-14

Government of West Bengal
Finance Department
Audit Branch

No. 7700-F(J) Dated: 24.09.2013

MEMORANDUM

Subject: State Govt. Employees Group Insurance Scheme, 1987 -Table of Benefits under Savings Fund for the year of cessation of membership 2013-14.

In continuation of this Department’s Memo No. 7783-F(J), dated 11.09.2012, the undersigned is directed to say that a new table of benefits showing accumulations in the 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 01.11.2013 to 31.10.2014 matching with the table of benefits of the Central Govt. Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No.7(2)/EV/2012 dated 15.01.2013. A copy of the said table is enclosed as ready reckoner. The figures have been worked out on the basis of interests @ 12% p.a. (compounded quarterly) for the period from 01.11.1987 to 31.10.2001, 11% p.a. (compounded quarterly) from 01.11.2001 to 31.10.2002, 9.5% p.a. (compounded quarterly) from 01.11.2002 to 31.10.2003, 9.0% p.a. (compounded quarterly) from 01.11.2003 to 31.10.2004, 8.0% p.a. (compounded quarterly) from 01.11.2004 to 31.10.2012 and 8.6% p.a. (compounded quarterly) from 01.11.2012 to 31.10.2013 and 8.8% p.a. (compounded quarterly) from 01.11.2013 onwards. The mortality rate continues to remain unchanged.

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 been fully realised from salary upto the month in which a member ceases to be in service, failing the same shall be deducted with interest from his/her entitlement.

Sd/- S.K. Ram
Joint Secretary to the
Government of West Bengal,
Finance Department.

ENCLOSURE TO FINANCE DEPARTMENT’S MEMO NO. 7700-F(J), DATED 24.09.2013
TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987
FOR SUBSCRIPTION @ Rs. 10/- PER MONTH
MONTHS OF CESSATION : YEAR 2013- 2014

Year of Entry Nov., 13 Dec., 13 Jan., 14 Feb., 14 March, 14 April, 14 May, 14 June, 14 July, 14 Aug., 14 Sept, 14 Oct, 14
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13)
1987 9999 10079 10160 10240 10321 10404 10485 10569 10654 10737 10820 10901
1988 8876 8946 9018 9092 9165 9237 9313 9386 9462 9536 9613 9686
1989 7860 7924 7990 8052 8118 8185 8250 8318 8384 8451 8519 8586
1990 6957 7013 7073 7129 7188 7247 7308 7367 7429 7489 7550 7608
1991 6155 6205 6257 6312 6364 6416 6470 6524 6578 6633 6687 6738
1992 5443 5487 5535 5583 5631 5678 5726 5773 5822 5872 5919 5966
1993 4809 4849 4891 4935 4979 5021 5063 5106 5152 5194 5240 5282
1994 4245 4283 4320 4359 4398 4437 4476 4514 4555 4593 4634 4672
1995 3746 3779 3813 3848 3882 3919 3952 3988 4024 4060 4096 4130
1996 3301 3331 3364 3394 3426 3458 3490 3522 3553 3587 3618 3650
1997 2906 2935 2962 2992 3018 3049 3077 3107 3135 3164 3194 3224
1998 2558 2580 2606 2632 2659 2684 2711 2738 2764 2792 2818 2844
1999 2244 2268 2292 2315 2339 2361 2384 2408 2433 2458 2482 2506
2000 1969 1988 2011 2031 2053 2077 2098 2120 2144 2165 2188 2210
2001 1722 1741 1762 1780 1800 1821 1840 1852 1883 1903 1923 1945
2002 1502 1520 1538 1557 1575 1593 1612 1631 1650 1669 1688 1706
2003 1304 1320 1337 1354 1370 1387 1404 1422 1439 1457 1475 1491
2004 1122 1138 1153 1168 1184 1199 1215 1231 1247 1263 1279 1295
2005 956 970 984 998 1012 1027 1041 1056 1070 1085 1100 1115
2006 802 815 828 841 854 867 880 894 907 921 934 948
2007 659 671 683 695 707 719 732 744 756 769 781 794
2008 528 539 550 561 572 583 594 606 617 629 640 652
2009 407 417 427 437 447 457 467 478 488 499 510 520
2010 294 304 313 322 331 341 350 360 369 379 389 399
2011 191 199 208 216 225 233 242 251 260 269 278 286
2012 95 103 111 118 126 134 142 150 158 166 175 183
2013 7 14 21 28 36 43 50 57 65 72 80 87

No. 7700-F dated 24.09.2013, Source

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