Group Insurance Scheme, 1987 – Table of Benefits, 2019

New table of benefits showing accumulation of savings fund under GISS, 1987 corresponding to a unit subscription of Rs. 10/- only per month has drawn up for the period from 01.05.2019 to 31.10.2019.

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No. 1873-F(J)-W.B. Date: 21/05/2019

MEMORANDUM

SUBJECT: State Government Employees Group Insurance Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of Membership 2019.

In continuation of this Department’s Memo No 4112-F(J)WB dated 01.11.2018, 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 01.05.2019 to 31.10.2019 matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 10.12.2018.

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:-

FromToInterest p.a. (compounded quarterly)FromToInterest p.a. (compounded quarterly)
01.11.198731.10.200112.0%01.11.201431.10.20178.7%
01.11.200131.10.200211.0%01.11.201731.01.20188.0%
01.11.200231.10.20039.5%01.02.201830.04.20187.9%
01.11.200331.10.20049.0%01.05.201831.10.20187.8%
01.11.200431.10.20128.0%01.11.201830.04.20197.6%
01.11.201231.10.20138.6%01.05.201931.07.20197.6%
01.11.201331.10.20148.8%01.08.201931.10.20198.0%

The mortality rate continues to remain unchanged.

3. 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.

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 realised 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.

Sd/- Additional Secretary
to the Govt. of West Bengal

ENCLOSURE TO FINANCE DEPARTMENT, WEST BENGAL MEMO NO: 1873-F(J)-WB DATED:- 21.05.2019

TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987 FOR SUBSCRIPTION @ RS. 10/- PER MONTH; MONTH OF CESSATION: 2019

Amount in Rupees

Year of EntryMay’ 19June’ 19July’ 19August’ 19September’ 19October’ 19
198716406.7616517.0216627.9716745.0916862.9916981.67
198814629.2514728.3214828.0114933.2115039.1115145.71
198913021.3713110.3213199.8313294.2513389.2913484.96
199011590.2811670.2211750.6711835.4911920.8712006.82
199110318.0710390.0010462.3910538.6810615.4810692.78
19929189.209254.049319.289388.009457.179526.80
19938189.358247.898306.808368.828431.248494.08
19947297.017349.947403.207459.237515.637572.40
19956505.026552.966601.206651.926702.976754.36
19965802.615846.135889.935935.935982.256028.87
19975179.055218.655258.495300.325342.425384.80
19984623.584659.684696.014734.114772.464811.06
19994129.034162.024195.214229.994265.014300.25
20003695.883726.143756.593788.473820.563852.87
20013308.373336.193364.183393.463422.943452.61
20022959.762985.393011.183038.123065.243092.54
20032645.382669.032692.832717.662742.662767.83
20042358.432380.272402.252425.162448.222471.43
20052094.532114.712135.022156.162177.442198.86
20061850.731869.381888.141907.651927.281947.04
20071625.491642.721660.061678.061696.171714.40
20081417.411433.331449.351465.951482.661499.48
20091225.181239.891254.691270.001285.411300.92
20101047.581061.171074.851088.971103.181117.49
2011883.51896.07908.71921.73934.83948.02
2012731.81743.42755.10767.10779.18791.34
2013592.42603.15613.95625.02636.15647.37
2014464.54474.46484.45494.66504.93515.28
2015347.25356.44365.68375.11384.59394.14
2016239.64248.15256.71265.41274.17282.99
2017140.90148.79156.73164.76172.86181.00
201849.9357.2564.6172.0479.5187.04

Additional Secretary to the Govt. of West Bengal
Finance Department

No. 1873-F dated 21.05.2019, Source