Central Government Employees Group Insurance Scheme
(CGEGIS): Ministry of Finance
Central
Government Employees Group Insurance Scheme (CGEGIS) came into force from 1st
January, 1982. The scheme provides for two fold benefit, viz., (1) insurance
cover to help their families and (2) lump sum payment to augment their
resources on retirement.
Details
of Central Government Employees Group Insurance Scheme (CGEGIS)
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Particulars
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Description
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Name of the Scheme
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Central Government
Employees Group Insurance Scheme (CGEGIS)
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Sponsored by
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Central Government
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Funding Pattern
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The scheme has two
funds namely (1) Insurance Fund and (2) Savings Fund. 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.
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Ministry/Department
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Department of
Expenditure
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Description
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Central Government
Employees Group Insurance Scheme (CGEGIS) came into force from 1st January,
1982. The scheme provides for two fold benefit, viz., (1) insurance cover to
help their families and (2) lump sum payment to augment their resources on
retirement.
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Beneficiaries
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Individual, Family
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Benefits
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Benefit Type
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Material
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Eligibility
criteria
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All the employees
who had entered Central Government Service after 1st November,1980 will be
compulsorily covered under the scheme from the date it came into force, i.e.
from 1st January,1982.
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How to Avail
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The employees will
be enrolled as members of the scheme only from 1st January every year. If an
employee enters service on or after 2nd January in any year, he will be
enrolled as a member only from 1st January of the next year.
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Validity
of the Scheme
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Introduced On
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01 / 01 / 1982
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Valid Upto
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12 / 11 / 2011
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CENTRAL GOVERNMENT
EMPLOYEES’ GROUP INSURANCE SCHEME, 1980.
5.1
The Scheme, Central Government Employees’ Group Insurance Scheme (CGEGIS)
came into force from 1st January,1982. This scheme provides for the Central Govt. employees the two fold benefit viz. (1) insurance cover to help their families and (2) lump sum payment to augment their resources on retirement.
came into force from 1st January,1982. This scheme provides for the Central Govt. employees the two fold benefit viz. (1) insurance cover to help their families and (2) lump sum payment to augment their resources on retirement.
5.2
The scheme has two funds namely (1) Insurance Fund and (2) Savings Fund. 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.
5.3
All these employees’ who had entered Central Government Service after 1st
November, 1980 will be compulsorily covered under the scheme from the date it
came into force i.e. from 1st January,1982. The employees will be enrolled as
members of the scheme only from 1st January every year. If an employee enters
service on or after 2nd January in any year, he will be enrolled as a member
only from 1st January of the next year. However, he will be entitled to
insurance cover from the actual date of entry of service till the end of that
calendar year by paying monthly subscription of Rs. 5/- p.m. as premium for
every Rs. 15,000/ – of the insurance cover.
Similarly,
on regular promotion of a member of a lower Group to a higher Group after 1st
January in a year, his subscription will be raised from the 1st January of the
next year.
Note
:- If an employee once admitted to a higher Group is subsequently reverted to
the lower Group for one reason or the other, he will continue to subscribe at
the same rate as that of higher Group.
5.4
Contract employees, persons on deputation from State Government Public Sector
Undertakings, or other autonomous organisations locally recruited staff in the
Missions abroad, casual labourer, part-time and ad-hoc employees will not be covered
by the scheme. It will also not apply to persons recruited in the Central
Government after attaining the age of 50 years.
5.5
Re-employed Defence personnel availing of the extended insurance cover under
the Group Insurance Scheme applicable to the members of Armed Forces shall not
be eligible to become members of this Scheme until expiry of the extended
insurance cover.
5.6
Subscription at the appropriate rate should be recovered by the DDO from each
member every month irrespective of whether the member is on duty, leave or
under suspension. In the case of absence on Extra Ordinary leave, subscription
due should be recovered in arrears in not more than 3 installments after the
member rejoins duty, along with appropriate interest thereon. In the event of
death of a member during Extra-ordinary leave, the DDO should recover arrears
in subscription along with interest, from the payment to the nominee admissible
under the scheme.
Note:-
Subscription is payable till the end of service including the month in which an
employee retires, dies or is removed from service. If an employee dies during a
month before recovery of subscription for that month, his dues will be paid
after deducting the subscription.
5.7
In the case of members proceeding on Foreign Service, the recovery of
subscription would be watched by the PAO concerned in the same manner as
recovery of leave salary and pension contributions is watched.
5.8
The Head of Office should obtain Nomination(s) in Form 7 or Form 8, as the case
may be, from all members without delay, and after counter signature, have them
pasted in their service books.
5.9
The Head of Office should ensure that Group-wise register of members is
maintained in Form 9 and kept up-to-date. This register shall be sent to the
DDO concerned once a year to verify whether appropriate subscription are being
recovered from all employees who have joined the Insurance Fund or both the
Insurance Fund and the Savings Fund under the Scheme and to record a
certificate to this effect.
Central Government Employees Group Insurance Scheme (CGEGIS)
Rules Eligibility Table after 7th Pay Commission
Many central government employees get a wide range of
benefits from the Central Government Employees Group Insurance Scheme
(CGEGIS). A portion of monthly contribution from every employee of offices that
come under the central government throughout the service and the overall
interest for these contributions plays the major role in the CGEGIS.
Below listed table describes the basic things about the
central government CGEGIS plan.
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S. No
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Things needed to
know about Central Government Employees Group Insurance Scheme (CGEGIS)
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Detailed
Explanation
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1
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The Insurance
Scheme for government employees sponsored by whom?
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The Central
Government of India sponsors for CGEGIS, which handles by Department of
Expenditure.
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2
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Who are all the beneficiaries
under this CGEGIS
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All central
government employees and their respective family members are eligible to get
merged with this insurance scheme
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3
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What are the
monthly deduction details under this CGEGIS
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At present central
government employees getting deduction of Rs.120 from their monthly salary
and it is be increased to Rs. 5000 as per proposal place by central
government
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4
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Insured amount
under CGEGIS
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Current the
insured amount is Rs. 1,20,000 and government plans to increase the sum
amount to Rs. 50,00,000
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Once people have entered the central government
service, they have to apply for this scheme through the Form No. 4 to the head
of office. The head of office is responsible for sanctioning the subscriber’s
accumulation payment in the segment of Savings Fund along with interest. This
fund can be received by the central government employees after their
retirement.
In the event of death of central government employees,
the CGEGIS is available to their family. All payments associated with this
insurance scheme are as per the Table of Benefit at all times. Central
government employees have to keep focusing on the Table of Benefit and
make an informed decision about how they can make use of this CGEGIS.
Central
Government Employees Group Insurance Scheme (CGEGIS) Important Factors:
- There are
two types of funding patterns associated with the CGEGIS. The first type
is insurance fund. The second type is savings fund.
- The ratio in
which a portion of the central government employee’s salary is allotted
for the insurance and savings funds is 3:7.
- Each
contribution to the savings fund earns interests at a certain rate
specified by the central government. The interest rate is compounded
quarterly.
- The
Department of Expenditure manages every aspect of the CGEGIS from the
beginning to end of this scheme for every employee of the central
government offices.
CGEGIS Table 1 2016 – Subscription of Rs.10 / month per unit
from 1.1.1982 to 31.12.1989
Eligibility
to join CGEGIS:
Every regular employee of the central government is eligible
for the CGEGIS. Employees who are joining the service on any day and month of a
year are considered as the member of CGEGIS from the January 1 of a year
they joined.
On the other hand, they will be entitled for this insurance
cover from the actual date of joining the service to the end of a year. They
will be fully qualified member of this insurance scheme from the January 1
to the next year.
Bear in mind that re-employed defense personnel are not
eligible for the CGEGIS until the expiry of insurance cover from the Group
Insurance Scheme for Armed Forces. Once they get their existing insurance cover
expired, they can meet the requirements for the CGEGIS easily.
Benefits
under CGEGIS:
- There are
many benefits for central government employees by the CGEGIS. The
following details explain these benefits.
- The amount
of contributions to the savings fund together with the overall interest
will be paid to the central government employee when they leave their job
or retire.
- Nominee or
hires of the central government employees will receive the amount of
insurance cover from this group belonged on the date of death and savings
fund’s accumulation in case of the death of employees.
- If central
government employees die before they were enrolled as members
of CGEGIS, nominee or heirs of these employees will get the insurance
amount only.
- Central
government employees obtain housing loans by assigning their accumulation
in the saving fun and the insurance cover. They cannot withdraw, loan or
advance from their savings fund and insurance fund.
Central
Government Employees Group Insurance Scheme (CGEGIS) change after 7th Pay
Commission
- The 7th pay
commission enhanced the CGEGIS that has remained unchanged for a long
time. The latest enhancements in the CGEGIS attract and satisfy every
employee of the central government.
- The level of
employee from 1 to 5, 6 to 9 and 10 and above paid 30, 60 and 120 per
month for the insurance amount 30000, 60000 and 120000 respectively so
far.
- The 7th pay
commission proposed that the level of employee 1 to 5, 6 to 9 and 10
and above can pay 1500, 2500 and 5000 per month for the insurance amount
1500000, 2500000 and 5000000 respectively hereafter.
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