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GISS, 1987 – Table of Benefits upto April, 2020

Table of Benefits showing Savings Fund Accumulations under the Group Insurance Scheme, 1987 for Subscription @ Rs. 10/- Per Month, Month of Cessation: April 2020.

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Update: Group Insurance Scheme 1987 – Table of Benefits, 2020-21

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No. 4114-F(J)W.B. Date : 19/11/2019

MEMORANDUM

SUBJECT: State Government Employees Group Insurance Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of Membership (upto) April 2020.

In continuation of this Department’s Memo No. 1873-F(J)WB dated 21.05.2019, 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 drawn up for the period from 01.11.2019 to 30.04.2020 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM NO. No. 7(2)/EV/2016 dated 13.08.2019.

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. compd. quarterly From To Interest p.a. compd. quarterly
01.11.1987 31.10.2001 12% 01.11.2014 31.10.2017 8.7%
01.112001 31.10.2002 11% 01.11.2017 31.01.2018 8.0%
01.11.2002 31.10.2003 9.5% 01.02.2018 30.04.2018 7.9%
01.11.2003 31.10.2004 9% 01.05.2018 31.10.2018 7.8%
01.11.2004 31.10.2012 8.0% 01.11.2018 30.04.2019 7.6%
01.11.2012 31.10.2013 8.6% 01.05.2019 31.07.2019 7.6%
01.11.2013 31.10.2014 8.8% 01.08.2019 30.04.2020 8%

The mortality rate continues to remain unchanged.

2. 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.

3. 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.

4. 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.

Additional Secretary to the
Govt. of West Bengal

ENCLOSURE TO THE FINANCE DEPARTMENT MEMO NO: 4114-F(J)-WB DATED:- 19.11.2019

TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987 FOR SUBSCRIPTION @ RS. 10/- PER MONTH, MONTH OF CESSATION: April 2020

Year of Entry November’ 19 December’ 19 January’ 20 February’ 20 March’ 20 April’ 20
1987 17101.13 17221.39 17342.44 17464.29 17586.95 17710.43
1988 15253.02 15361.03 15469.77 15579.22 15689.39 15800.30
1989 13581.27 13678.22 13775.80 13874.04 13972.92 14072.46
1990 12093.34 12180.43 12268.10 12356.35 12445.18 12534.60
1991 10770.60 10848.93 10927.78 11007.15 11087.05 11167.47
1992 9596.90 9667.45 9738.48 9809.97 9881.94 9954.39
1993 8557.33 8621.00 8685.10 8749.62 8814.56 8879.94
1994 7629.55 7687.08 7744.99 7803.28 7861.96 7921.03
1995 6806.10 6858.17 6910.59 6963.36 7016.47 7069.94
1996 6075.79 6123.03 6170.58 6218.45 6266.63 6315.13
1997 5427.46 5470.41 5513.64 5557.15 5600.95 5645.05
1998 4849.93 4889.05 4928.43 4968.07 5007.97 5048.13
1999 4335.73 4371.45 4407.40 4443.59 4480.02 4516.69
2000 3885.38 3918.11 3951.06 3984.23 4017.62 4051.22
2001 3482.47 3512.54 3542.80 3573.26 3603.93 3634.79
2002 3120.02 3147.69 3175.53 3203.56 3231.78 3260.18
2003 2793.16 2818.65 2844.32 2870.16 2896.17 2922.35
2004 2494.80 2518.32 2542.00 2565.84 2589.83 2613.98
2005 2220.42 2242.13 2263.98 2285.97 2308.11 2330.40
2006 1966.94 1986.96 2007.12 2027.42 2047.84 2068.41
2007 1732.76 1751.23 1769.83 1788.55 1807.40 1826.37
2008 1516.41 1533.45 1550.61 1567.88 1585.26 1602.76
2009 1316.54 1332.26 1348.08 1364.01 1380.04 1396.18
2010 1131.89 1146.39 1160.98 1175.67 1190.45 1205.34
2011 961.30 974.67 988.12 1001.67 1015.30 1029.03
2012 803.58 815.90 828.31 840.79 853.36 866.01
2013 658.65 670.02 681.45 692.97 704.56 716.22
2014 525.69 536.17 546.72 557.34 568.03 578.80
2015 403.75 413.42 423.16 432.96 442.83 452.76
2016 291.86 300.79 309.78 318.84 327.95 337.12
2017 189.20 197.45 205.76 214.12 222.54 231.01
2018 94.62 102.24 109.92 117.65 125.43 133.26
2019 7.00 14.05 21.14 28.28 35.47 42.70

Additional Secretary to the
Govt. of W. Bengal

No. 4114-F dated 19.11.2019, Source