Thursday, 6 August 2015

GO MS 99.Dt.6.8.15. APGLI Revised Rate of Interest on Savings Period from 01.04.2015 to 31.03.2016

PUBLIC SERVICES – Employees Welfare Scheme – Andhra Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of Interest on accumulated Savings FundCommunication of Tables of Benefits for Savings Fund for the Period from 01.04.2015 to31.03.2016 – Revised Tables – Orders – Issued.
G.O.MS.No. 99.  Dated: 06-08-2015
1,In the reference 1stread above orders were issued introducing Group Insurance Scheme to the State Government Employees in place of Family Benefit  Scheme  with  effectfrom  01.11.1984.  According  to  Para  9  of  the reference  1st    read  above,  the  accumulations  of  SavingsFund  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 subscriptionof 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 workingof the Andhra Pradesh State Employees Group Insurance Scheme in Government orders 3rd  above orders were issued for revision of rate of subscription each unit from Rs. 10/- toRs. 15/- with effect from 01.11.1994. In modification of the Para 9 of the Government orders 1stread above, orders were issued in Government orders 4thread above, for fixing the intereston the accumulations of the Savings Fund of the Member of the Scheme for the State as awhole and shall be paid at the Rate of 12 % per annum compounded Quarterly  with  effect  from  01.11.1994.  Further, in the Government orders
5thread above, 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 beRs. 15,000/- for each unit of subscription.

4.      The rate of interest on accumulations of Savings Fund of the Member of the Schemeand the interest on the Insurance Fund from time to time is as follows:
DOWNLOAD...GO MS 99.Dt.6.8.15. APGLI Revised Rate of Interest on Savings Period from 01.04.2015 to 31.03.2016

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