Join My whatsapp GroupG.O.MS.No.111,Dt.11.07.2017 GIS - Revised Rate of Interest
GOVERNMENT
OF ANDHRA PRADESH ABSTRACT
PUBLIC SERVICES – Employees Welfare
Scheme – Andhra Pradesh
State Employees Group Insurance
Scheme – 1984 – Revised Rate of Interest
on accumulated Savings Fund - Communication of Tables of Benefits for
Savings Fund for the Period from 01.01.2017 to 31.03.2017 – Revised Tables –
Orders – Issued.
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FINANCE (ADMN.DI&IF)
DEPARTMENT
G.O.MS.No.
111
Dated: 11-07-2017
Read the following:-
O R D E R:
In the reference 1st read above,
orders were issued
introducing Group Insurance Scheme to the State Government Employees in
place of Family Benefit Scheme
with effect from 01.11.1984. According to Para 9 of the reference 1st read
above, the accumulations of Savings Fund part and
Insurance Fund part shall carry interest at the rates prescribed by Government from
time to time.
2. In the reference 2nd read above, orders were issued for apportioning the subscription of each unit of Rs. 10/- between
Insurance Fund and Savings Fund in the ratio of Rs. 3.125 paisa and Rs. 6.875 paisa respectively.
3. In the reference 3rd above, orders were issued
for revision of rate of
subscription each unit from Rs. 10/- to Rs. 15/-. The apportionment of
the subscription of each unit Rs. 15/- between Insurance
Fund and Savings Fund was
fixed in the ratio of Rs.4.50/- and
Rs. 10.50/- respectively with effect from 01.11.1994.
The amount of Insurance coverage will be
Rs. 15,000/- for
each unit of
subscription in the reference 5th cited.
4. In the reference 8th read above, the Director of Insurance while enclosing the revised tables of the
Group Insurance Scheme for first Quarter of the Calendar year 2017
with an interest rate @ 8% proposed simplified
Table and stated that the above table is applicable to those who are retiring/deceased from 01.01.2017 to 31.03.2017
and
he has also requested to issue following instructions that has to be followed
scrupulously.
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