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AP GIS Revised Rate of Interest on saving funds

ANDHRA PRADESH
 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 01.01.2017 to 31.03.2017 – Revised 
Tables – Orders – Issued. 

G.O.MS.No. 111 Dated: 11-07-2017 



1. G.O.Ms.No.293, Finance & Planning (FW.Accts.II) Dept.,
dated: 08.10.1984.
2. G.O.Ms.No.312, Finance & Planning (FW.Admn.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.381, Finance & Planning (FW.Admn.II)
Department, dated: 05.12.1994.
5. G.O.Ms.No.382, Finance & Planning (FW.Admn.II)
Department, dt: 05.12.1994.
6. G.O.Ms.No.99, Finance (Admn.II) Department, dated:
06.08.2015.
7. G.O.Ms.no.13 Finance (Admn.DI&IF) Department dated 24-
01-2017
8. Lr.No.01/GIS-I/2012-13, dated 29-05-2017 of Director of
Insurance., AP. Ibrhimpatanam.


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. 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 paisa and Rs. 6.875 paisa
respectively.



3. In the reference 3rd above, orders were issued for revision of rate of
subscription each unit from Rs. 10/- to Rs. 15/-. 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 in the
reference 5th cited.



4. In the reference 8th read above, the Director of Insurance while
enclosing the revised tables of the Group Insurance Scheme for first
Quarter of the Calendar year 2017 with an interest rate @ 8% proposed
simplified Table and stated that the above table is applicable to those who
are retiring/deceased from 01.01.2017 to 31.03.2017 and he has also
requested to issue following instructions that has to be followed
scrupulously.


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