G.O Ms No.90 Dated 1.05.2014 GIS Tables 2014-2015. Group Insurance Scheme Savings Fund Tables 2014-2015
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 01.04.2014 to 31.03.2015 – Revised Tables – Orders – Issued
Finance (Admn 2) Department, G.O.Ms.No.90, Dated 01.05.2014
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. Accordingly to Para 9 of the above Order, 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 each unit from Rs.10/- to Rs.15/- with effect from 01.11.1994. In Modification of the Para 9 of the Government Orders 1st read above, Orders were issued in Government Orders 4th read above for fixing the Interest on the Accumulations of the Savings Fund of the Member of the Scheme for the State as a whole and shall be paid at the Rate of 12 %per Annum compounded Quarterly with effect from 01.11.1994. Further, in the Government Orders 5thread above, the Apportionment of the Subscription of each unit Rs.15/- between Insurance Fund and Savings Fund was fixed in the Ratio of 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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