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
FINANCE (ADMN-III-DI,DSA) DEPARTMENT
G.O.MS.No.8 Dated: 22-02-2021
Read the Following:-
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.111,Finance(Admn.DI&IF)Department,Dated:11-07-2017
5) G.O.MS.No.122,Finance(Admn.DI&IF)Department,Dated:19-07-2017
6) G.O.MS.No.3,Finance(Admin-III) Department, Dated:26-01-2018
7) G.O.RT.No.96,Finance (HR-5-Pension,GPF) Department, Dated:24-01-2018
8) G.O.MS.No.51,Finance (Admin-III) Department, Dated:24-04-2018
9) G.O.RT.No.1204,Finance (HR-5-Pension,GPF) Department, Dated:22-05-2018
10) G.O.MS.No.156, Finance (Admn-III) Department, Dated:28-09-2018.
11) G.O.RT.No.2119, Finance (HR-4-Pension.II,GPF) Department,Dated:17-12-2018.
12) G.O.MS.No.19, Finance (Admn-III) Department ,Dated :13-02-2019
13) G.O.RT.No.110, Finance (HR-IV-Pension.II,GPF) Department,Dated:24-01-2019.
14) G.O.RT.No.950, Finance(HR-IV-Pension.II,GPF) Department,Dated:01.05. 2019.
15) G.O.MS.No. 131, Finance(Admn-III.DI,DSA) Department, Dated: 27-09-2019.
16) G.O.RT.No.1319, Finance(HR-IV-Pension.II,GPF)Department,Dated:20-08-2019.
17) G.O.MS.No.2, Finance(Admn-III.DI,DSA)Department,Dated:01-01-2020.
18) G.O.RT.No.2134, Finance(HR-III-Pension)Department,Dated:24-12-2019.
19) G.O.MS.No.41, Finance(Admn-III.DI,DSA)Department,Dated:13-05-2020.
20) G.O.RT.No.1689, Finance(HR-III-Pension)Department,Dated:22-06-2020
21) G.O.RT.No.1690, Finance(HR-III-Pension)Department,Dated:22-06-2020
22) G.O.MS.No.81, Finance (Admn-III.DI, DSA) Department. Dated: 07-09-2020
23) G.O.RT.No.2403, Finance (HR-III-Pension,GPF) Dep., Dated: 22-09-2020.
ORDER:
In the reference 1st 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 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:
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 Quarter of 2020 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.
3. The Director of Insurance, Andhra Pradesh, Amravati, and Ibrahimpatnam shall
conduct a regular Audit of all claims paid under Group Insurance Scheme and send
are port to the Head of the Department concerned.
4. 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.
6. 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 Disbursing Officer.
8. As per G.O.Ms.No.910, Finance (Admn.II) 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”.
9. 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.
7. 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. from 1st July 2020 on the
Andhra Pradesh Group Insurance Savings Funds shall be allowed to continue up to 30-09-
2020. Further, it is ordered that instructions prescribed should be followed scrupulously. The
revised Table is annexed and some illustrations are also given in Annexure-ii
