The Department of Expenditure of the Ministry of Finance has announced a revised maturity table for the Central Government Employee Insurance Scheme between October 1, 2022 and December 31, 2022. The enclosed circular has two types of maturity value tables. Please click the provided link to view or download the CGEGIS fund maturity benefit table in PDF format.
Employees can obtain a life insurance policy that will assist their family in the event of a work-related death, as well as a lump-sum payment to make their retirement exceptionally enjoyable, all at the cheap cost of a totally contributing and self-financing basis!
The Central Government Employees Group Insurance Scheme (CGEGIS) is a welfare program that offers financial protection to the families of central government employees in the case of an employee’s death or disability. It is a benefit plan that gives employees and their families with a lump sum payment, a monthly income, and additional benefits.
Every three months, the Ministry of Finance provides CGEGIS beneficiaries with two bundles of computation tables. The Monthly Deduction and Insurance Amount have been frozen at 1990 levels because the 7th CPC suggested a substantial increase. The Central Government was unable to deliver its recommendations notwithstanding the suggestion. Consequently, the scheme’s monthly contribution rates remain unchanged!
The CGEGIS makes a lump sum payment to the dead employee’s family. This sum is calculated based on the employee’s most recent drawn salary and length of service. The amount can be used for any purpose, including paying off debts, medical expenditures, or other costs. This lump sum might give financial stability to the employee’s family in the event of death. The CGEGIS is a vital programme that can assist federal employees and their families in times of need.
Below are the 1982 maturity values for the period October through December 2022. For further details regarding the complete maturity value table from 1982 to 2022, please click the link.
|Contribution @ Rs. 10 PM up to 31.12.89 and Rs.15 throughout after 1.1.90|
|Contribution @ Rs. 10 throughout|