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Central Government Employees Group Insurance Scheme 1980 – tables of Benefits

Central Government Employees Group Insurance Scheme 1980 ( CGEGIS ) – tables of Benefits from 1st January 2013 to 31st December 2013

CGEGIS is a group Insurance Scheme applicable to Central Government Employees.

It came into force from 1st January,1982, and provides employees either the life insurance cover in the case of death during service or a maturity amount in the case of retirement from service.

A portion of the subscription is credited to Insurance Fund and the other portion to the Savings Fund in the ratio of 3:7. The Savings Fund will earn interest at the prescribed rate to be compounded quarterly.

Monthly subscription, life insurance sum assured and Maturity amount applicable for different cadres are as follows

Employee Cadre Contribution per Month (Rs.) Insurance cover (Rs.)
A 120 1,20,000
B 60 60,000
C 30 30,000
D 15 15,000

Features of this Scheme:

  • On Resignation/Retirement :- Amount of subscription credited to the Savings Fund along with interest thereon will be paid to the employee.
  • On Death : Amount of insurance cover of the group to which he belongs on the date of death and the accumulation in Savings Fund will be paid to his nominee/heirs.
  • If an employee dies before he was enrolled as a member (i.e. between the date of his joining service and the following Ist January), only the insurance amount will be paid to the nominee/heirs.
  • Employee can assign the insurance cover and accumulation in the savings fund to a recognized financial institution, for obtaining housing loans. However, no loans/advance or withdrawals are permitted from Insurance Fund/Savings Fund.
  • The amount of subscription is eligible for Income Tax Rebate u/s 88 of IT Act.

Savings aspect of this Central Government Empoyees Group Insurance Scheme is governed by Tables of Benefit announced by Finance Ministry every year.

In respect of year 2013, Finance Ministry has released Tables of Benefit.

CGEGIS Tables of Benfit for the period from 01.01.2013 to 31.12.2013

Central Government Employees Group insurance Scheme-1980

Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 15 January, 2013



Sub: Central Government Employees Group insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.01.2013 to 31.12.2013.

The undersigned in directed to refer to this Ministry’s O.M. No.7 (1)/EV/2012 dated 9th May, 2012 forwarding therewith Tables of Benefit under CGEGIS for the year 2012. New Tables of Benefits for the savings fund of the Scheme based on a subscription of Rs.10 per month from 1.1.1982 to 31.12.1989 and Rs.15 per month we.f. 1.1.1990 onwards have been prepared for the year 2013 and a copy of the table is enclosed.  Another table of Benefits for the savings fund based on a subscription of Rs.10 per month for those employees who had opted out of the revised rates of subscription w.e.f. 1.1.1990 have also been drawn up for the year 2013 and a copy of that table is also enclosed. The amounts in the Tables have been worked out on the basis of interest @10% per annum (compounded quarterly) for the period from 1.1.1982 to 31.12.1982 11% per annum (compounded quarterly) w.e.f. 1.1.1983 to 31.12.1986, 12% per annum (compounded quarterly) w.e.f. 1.1.1987 to 31.12.2000, 11% per annum (compounded quarterly) w.e.f. 1.1.2001 to 31.12.2001, 9.5% per annum (compounded quarterly) w.e.f. 1.1.2002 to 31.1.2002, 9.0% per annum (compounded quarterly) 1.1.2003 to 31.12.2003, 8% per annum (compounded quarterly) w.e.f. 1.1.2004 to 30.11.2011, 8.6% per annum (compounded quarterly) w.e.f. 1.12.2011 to 31.03.2012 and 8.8% per annum (compounded quarterly) w.e.f. 1.04.2012 onwards. The mortality rate under the Scheme has been taken as 3.75 per thousand per annum up to 31.12.1987 and 3.60 per thousand per annum thereafter in both the cases. While calculating the amount it has been assumed that the subscription has been recovered or will be recovered from the salary of the month in which a member ceases to be in service failing which it should be deducted from accumulated amounts payable.
2. In its application to the employee of Indian Audit and Accounts Department this Office Memorandum issues consultation with the Comptroller and Auditor General of India.

Download Tables of Benefits


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