A revised maturity table for the Central Government Employee Insurance Scheme for the time period of October 1, 2022, through December 31, 2022 has been released by the Ministry of Finance’s Department of Expenditure. Two different maturity value tables are included in the circular that is attached. Please click the provided link to view or download the CGEGIS fund maturity benefit table in PDF format.
At the low cost of a totally contributory and self-financing basis, employees can benefit from the wonderful advantages of an insurance cover that will assist their families in the event of death in service, as well as a lump-sum payment to make their retirement exceptionally enjoyable.
In the event that a central government employee passes away or becomes disabled, their family will have financial stability thanks to the Central Government Employees Group Insurance Scheme (CGEGIS), a benefit program. It is a useful program that offers employees and their families a variety of perks, including a lump sum payment, monthly income, and other benefits.
The Ministry of Finance sends two bundles of computation tables to CGEGIS beneficiaries every three months. Unfortunately, the Monthly Deduction and Insurance Amount haven’t changed since 1990, thus the 7th CPC suggested sharply raising them. The Central Government was unable to offer recommendations, notwithstanding the suggestion. Therefore, the program will continue to accept monthly contributions at the current rates.
The CGEGIS gives the departed employee’s family a lump sum payment. Based on the employee’s latest received wage and the number of years of service, this sum is determined. The total is paid in one lump sum and may be applied to any expense, including debt repayment, medical bills, and other outlays. In the event of the employee’s passing, the family may benefit financially from this lump sum payment. The CGEGIS is a crucial program that can assist central government workers and their families in difficult circumstances.
The maturity values for the period October to December 2022 for 1982 are provided below. 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|