PUBLIC SERVICES Employees Welfare Scheme – Andhra Pradesh State Employees Group Insurance Scheme 1984 Revised Rate of Interest (7.1% p.a) w.e.f 01-07-2021 to 31-12-2021on accumulated Savings Fund Communication of Tables of Benefits for Savings Fund for the Period from 01-01-2021 to 31-12-2021- Revised Tables-Orders- Issued.
1) G.O.MS.No.293, Finance & Planning (Finance. Wing-Accts.II) Department, Dated:08.10.1984 2) G.O.MS.No.312, Finance.&Plg.(Fin. Wing.Accts.II)Department,Dated:06-11-1984
3) G.O.MS.No.367, Finance& Planning(FW-Admn.II)Department,Dated: 15-11-1994
4) G.O.MS.No.8, Finance (Admn-III.DI, DSA) Department. Dated:22-02-2021
5) G.O.RT.No.3060, Finance (HR-III-Pension, GPF) Dep., Dated:29-12-2020
6) G.O.RT.No.337, Finance (HR-III-Pension,GPF) Dep., Dated:26-02-2021
7) G.O.MS.No.43, Finance (Admn-III.DI, DSA) Department. Dated:25-06-2021
8) G.O.RT.No.1590, Finance (HR-III-Pension, GPF) Dep., Dated:01-07-2021
9) G.O.MS.No.74, Finance (Admn-III.DI, DSA) Department. Dated:17-09-2021
10) G.O.RT.No.1936, Finance (HR-III-Pension, GPF) Dep., Dated:29-09-2021 11) G.O.RT.No.2025, Finance (HR-III-Pension,GPF) Dep., Dated:23-12-2021
In the reference 1″ read above, orders were issued for 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 1″ 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.
5 Government has constituted a committee for preparation of Tables for
calendar year 2016 onwards on par with CGEGIS tables. The Committee has
prepared a simplified table for maturity value of one unit for the
calendar year 2016 and in Continuation of the government orders the
table for 3rd & 4th Quarter of Calendar Year 2021 is prepared at the
applicable interest rates 7.1% per anum.
6. The Sanctioning
Authorities Drawing and Disbursement Officer/ Treasury Officers
/District Audit Officers / Pay and Accounts Officers / Director of Works
and Accounts are requested to keep in view of the appended Table while
sanctioning and making the final payments. under Group Insurance Scheme
for proper implementation of the Scheme. Further, the following
instructions shall also be scrupulously followed:
1) The Head of the Department / Drawing and Disbursement Officer shall
be held responsible for sanctioning the Group Insurance Scheme final
payments. If any excess Payments are found, the difference amount shall
be collected from the sanctioning authority and such Officers are liable
for disciplinary action.
2) The Drawing and Disbursement Officer
shall recover the correct rate of subscription according to the
eligible group of employees. For any excess/less recovery, the Drawing
and Disbursement Officer concerned shall be held responsible.
The Director of Insurance, Andhra Pradesh, Amravati, and Ibrahimpatnam
shall conduct a regular Audit of all claims paid under Group Insurance
Scheme and send a report to the Head of the Department concerned.
The Head of the Department concerned shall take action against the
erring officials who are responsible for the excess / less recoveries
wherever they are detected
5) Any excess payment made, if found during the Audit by the Directorate of Insurance, the same shall be immediately recovered from the concerned and remitted through e-challan to the Head of Account i.e. 8011-107-01 by the Drawing and Disbursement Officer and the fact of remittance shall invariably be communicated to the Directorate of Insurance.
If an employee’s subscription at any period if not recovered during his
Service the total subscription along with interest shall be recovered
from the payments admissible to him.
7) All the Heads of Offices
should take prompt action for recording the necessary subscription
entries in the Service Registers of the employees under proper
attestation every year at the close of March and a Certificate shall be
recorded in the Service Book of each employee that subscription to the
Scheme at the appropriate rates. have been recovered for the period from
April to March. The entries shall be attested by the Drawing and
8) As per G.O.Ms.No.910, Finance (Admn.11)
Department, dated: 28.10.2002 “Sanctioning authority shall send a copy
of sanction orders of the Group Insurance Scheme Payment including
calculation slip to the Directorate of Insurance for verification”.
As per G.O.Ms.No.225, Finance (Admn.II) Department, dated:22 06-2010
the revised pay slabs as per RPS 2010 and its Corresponding Slabs in the
Revised Scales of Pay, 2015 for Classification of Groups and Compulsory
deduction of subscription units applicable to the corresponding groups
as shown below.
In view of the above circumstances stated above and after careful
examination of the matter, Government hereby order that the revised rate
@7.1% p.a. Ist July 2021 on the Andhra Pradesh Group Insurance Savings
Funds shall be allowed to continue up to 31-12 2021. Further, it is
ordered that instructions prescribed should be followed scrupulously.
The revised Table is annexed in Annexure I and some illustrations are
also given in Annexure-II.