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Group Insurance Scheme 1987 – Table of Benefits, 2012-13

A new table of benefits showing accumulations in the savings fund under the GI 1987 corresponding to a unit subscription of Rs. 10/- only per month has been drawn up for the period from 01.11.2012 to 31.10.2013.

For any query, ask here: Group Insurance Scheme 1987 – Table of Benefits, 2012-13

Update: Group Insurance Scheme 1987 – Table of Benefits, 2013-14

Government of West Bengal
Finance Department
Audit Branch

No. 7783-F(J), Dated: 11.09.2012

MEMORANDUM

Subject: State Govt. Employees Group Insurance Scheme, 1987 -Table of Benefits under Savings Fund for the year of cessation of membership 2012-13.

In continuation of this Department’s Memo No. 10286-F(J), dated 14.11.2011, 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 01.11.2012 to 31.10.2013 in matching with the table of benefits of the Central Govt. Employees Group Insurance Scheme, 1980 circulated under GOIs OM (corri.) No. 7(1)/EV/2012 dated 09.05.2012. A copy of the said table is enclosed as ready reckoner. The figures have been worked out on the basis of interest @ 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 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/- P.N. Samadder
Joint Secretary to the
Government of West Bengal
Finance Department.

Year of Entry (Nov)Nov, 12Dec, 12Jan, 13Feb, 13Mar, 13Apr, 13May, 13June, 13July, 13Aug, 13Sept, 13Oct, 13
(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)(13)
1987908991609233930593779452952496009676975098259898
1988805881228186825383188383845185178585865187208785
1989712771847244730073587419747775387597765877197779
1990629963506403645465076560661466676723677768326883
1991556356085655570457525798584758955944599360416087
1992491049514993503650805122516552085251529653385380
1993432943654404444344824520455845974638467647164755
1994381238463880391539503985402040544091412541624196
1995335533843415344634773510354035733605363836703701
1996294729743004303130593088311731463173320432323261
1997258426112635266226862713273827662791281728442871
1998226522852309233223562379240324282451247725002523
1999197719992020204220632083210321262148217021922213
2000172517421763178118011823184218621883190219231942
2001149915161535155115691588160616251644166216801700
2002129713141330134613631380139614131430144814651482
2003111511301145116011761191120612221238125412691285
200494996397799110051019103310471062107610911105
2005796809822834847860874887900913927940
2006655667678690702714726738751763775788
2007525535546557568579590601613624635647
2008404414424434444454464475485495506516
2009293302311320329339348358367377386396
2010190198207215224232241250258267276285
201195102110118126134142150158166174182
201271421283643505765728087

No. 7783-F dated 11.09.2012, Source