Join My whatsapp GroupG.O.Ms.No.8,Dt.22.02.2021- GIS-Revised Rate of Interest (7.1% p.a) - Revised Tables – Orders – Issued.
GIS-Revised Rate of Interest (7.1% p.a) - Revised Tables – Orders – Issued.
PUBLIC SERVICES – Employees Welfare Scheme – Andhra Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of Interest (7.1% p.a) on accumulated Savings Fund Communication of Tables of Benefits for Savings Fund for the Period from 01-07-2020 to 30-09-2020 – Revised Tables – Orders – Issued.
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ORDER:
In the reference 1st read above, orders were issued for introducing Group InsuranceScheme to the State Government Employees in place of Family Benefit Scheme with effect from01-11-1984. 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/- and Rs.6.875/-respectively.
3. In terms of the recommendation of the Committee constituted to review the working of the Andhra Pradesh State Employees Group Insurance Scheme in Government orders 3rd Read above, orders were issued for revision of rate of subscription of each unit from Rs.10/- to Rs.15/- with effect from 01-11-1994. 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.
4. The rate of interest on accumulations of Savings Fund of the Member of the Scheme and the interest on the Insurance Fund from time to time is as follows:
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