GISS, 1987 – Table of Benefits upto January, 2021
GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH
No. 3140-F(J)-N.B. Date: 10th November, 2020
MEMORANDUM
SUBJECT: State Government Employees Group Insurance cum Savings Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of Membership 2020-2021.
In continuation of this Department’s Memo No. 2291-F(J)NB dated 24.07.2020, 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 01.11.2020 to 31.01.2021 matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 05.02.2020.
A copy of the said table is enclosed herewith as ready-reckoner. The figures have been worked out on the basis of the rates of interest as follows:-
| From | To | Interest p.a. (compounded quarterly) | From | To | Interest p.a. (compounded quarterly) |
| 01.11.1987 | 31.10.2001 | 12% | 01.02.2018 | 30.04.2018 | 7.9% |
| 01.11.2001 | 31.10.2002 | 11% | 01.05.2018 | 31.10.2018 | 7.8% |
| 01.11.2002 | 31.10.2003 | 9.5% | 01.11.2018 | 30.04.2019 | 7.6% |
| 01.11.2003 | 31.10.2004 | 9.0% | 01.05.2019 | 31.07.2019 | 7.6% |
| 01.11.2004 | 31.10.2012 | 8.0% | 01.08.2019 | 30.04.2020 | 8% |
| 01.11.2012 | 31.10.2013 | 8.6% | 01.05.2020 | 31.07.2020 | 7.9% |
| 01.11.2013 | 31.10.2014 | 8.8% | 01.08.2020 | 31.10.2020 | 7.9% |
| 01.11.2014 | 31.10.2017 | 8.7% | 01.11.2020 | 31.01.2021 | 7.9% |
| 01.11.2017 | 31.01.2018 | 8.0% |
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 which the same shall be deducted with interest from his/her entitlement.
Additional Secretary to the
Government of West Bengal
ENCLOSURE TO FINANCE DEPARTMENT MEMO NO: 3140-F(J)-NB DATED:- 10.11.2020
TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE CUM SAVINGS SCHEME, 1987
FOR SUBSCRIPTION @ Rs. 10/- PER MONTH.
YEAR OF CESSATION 2020-2021
MONTH OF CESSATION FROM NOVEMBER, 2020 TO JANUARY, 2021.
| YEAR OF ENTRY | NOVEMBER, 2020 | DECEMBER, 2020 | JANUARY, 2021 |
| 1987 | 18587.32 | 18715.89 | 18845.30 |
| 1988 | 16588.01 | 16703.50 | 16819.75 |
| 1989 | 14779.49 | 14883.16 | 14987.50 |
| 1990 | 13169.83 | 13262.97 | 13356.71 |
| 1991 | 11738.87 | 11822.65 | 11906.97 |
| 1992 | 10469.14 | 10544.62 | 10620.58 |
| 1993 | 9344.53 | 9412.65 | 9481.21 |
| 1994 | 8340.84 | 8402.40 | 8464.35 |
| 1995 | 7450.02 | 75.05.75 | 7561.84 |
| 1996 | 6659.97 | 6710.53 | 6761.42 |
| 1997 | 5958.60 | 6004.57 | 6050.84 |
| 1998 | 5333.81 | 5375.70 | 5417.86 |
| 1999 | 4777.55 | 4815.80 | 4854.29 |
| 2000 | 4290.35 | 4325.41 | 4360.70 |
| 2001 | 3854.48 | 3886.69 | 3919.11 |
| 2002 | 3462.38 | 3492.02 | 3521.86 |
| 2003 | 3108.77 | 3136.10 | 3163.61 |
| 2004 | 2786.00 | 2811.23 | 2836.61 |
| 2005 | 2489.18 | 2512.46 | 2535.89 |
| 2006 | 2214.95 | 2236.44 | 2258.07 |
| 2007 | 1961.61 | 1981.44 | 2001.40 |
| 2008 | 1727.57 | 1745.87 | 1764.29 |
| 2009 | 1511.35 | 1528.23 | 1545.23 |
| 2010 | 1311.59 | 1327.17 | 1342.85 |
| 2011 | 1127.04 | 1141.42 | 1155.88 |
| 2012 | 956.42 | 969.67 | 983.02 |
| 2013 | 799.64 | 811.87 | 824.18 |
| 2014 | 655.79 | 667.08 | 678.45 |
| 2015 | 523.87 | 534.30 | 544.79 |
| 2016 | 402.83 | 412.47 | 422.16 |
| 2017 | 291.77 | 300.68 | 309.65 |
| 2018 | 189.45 | 197.69 | 205.99 |
| 2019 | 94.67 | 102.29 | 109.96 |
| 2020 | 7.00 | 14.05 | 21.14 |
Additional Secretary
Finance Department, West Bengal