AP State Employees Group Insurance Scheme(GIS)
GIS GO Ms No:126 AP State Employees Group Insurance Scheme(GIS)–Revised Rate of Interest
G.O.Ms.No.126 Dated: 29-05-2013 GIS–Revised Rate of Interest
Introducing Group Insurance
Scheme to the State Government employees in place of Family Benefit Fund Scheme w.e.f.
01-11-1984. The accumulations of Savings Fund part and Insurance Fund part shall carry interest at the rates prescribed by Government from time
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
and Rs. 6.875 respectively.
In terms of the recommendation of the Committee constituted to review the working
of the A.P. State Employees Group Insurance Scheme in Government orders 3rd read above
orders were issued for revision of rate of subscription of each unit from Rs.10/- to Rs.15/-
with effect from 01-11-1994. In modification of the para 9 of the Government orders 1st read
above, orders were issued for fixing the interest on the accumulations of the Savings Fund of the Member of the Scheme for the State as a whole.
Further, in the Government Orders 5th read above, the apportionment of the subscription of
each unit of 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.
The rate of interest on accumulations of Savings Fund of the Member of the Scheme
and the interest on the Insurance Fund from time to time is as follows.
GIS Interest Rates Upto : 2013 onwords
||Rate of Interest
||G. O. Ms. No. 293 Finance & Planning (FW. Accts.II)
Department, dated 08-10-1984
||G. O. Ms. No. 381 Finance & Planning (Fw. Admn.II)
Department, dated 05-12-1994.
|| G.O.Ms. No. 63 Finance & Planning (Fw, Pen-II)
Department, dated 06-06-2000
|| G.O.Ms.No. 345 Finance & Planning (FW. Pen-II)
Department, dated 07-07-2001
||G.O.Ms.No. 703 Finance & Planning (FW.Pen.II)
Department, dated 19-07-2002
||G.O.Ms.No. 625 Finance & Planning ( Fw .Pen.II)
Department, dated 02-09-2004
||G.O.Rt.No. 2425 Finance (Pen-II) Department,
|| 8.8 %
||G.O.Rt.No. 2735 Finance (Pen.II) Department,
||G.O.Rt.No.2142 Finance (Pen.II) Department,
In the reference 12th read above, Government were issued orders to reduce the
rate of interest from 8.8% to 8.7% per annum w.e.f. 01-04-2013 on the Provident Funds and
other similar funds i.e., Andhra Pradesh Government Life Insurance Funds maintained by the
Government of Andhra Pradesh on par with the rates of Government of India until further
In view of the above circumstances and after careful examination of the matter,
Government hereby order that in supercession of the orders issued in the reference 8th read
above, the revised rates of interest on the A.P. Group Insurance Savings Funds shall be
allowed at 8.7% per annum from 01-04-2013 onwards and the Tables are revised and issued
for the period covering from 01-04-2013 to 31-03-2014. The revised tables of benefits I, II
& III, III(A) to III (T) on savings Fund of Andhra Pradesh State Employees Group Insurance
Scheme, 1984 on cessation of membership during the period from 01-04-2013 to 31-03-2014
are appended herewith for making payments under the Scheme.
These orders and Tables shall come in force with effect from 01-04-2013.
The Sanctioning Authorities / Drawing & Disbursement Officer’s / Treasury Officers/
District Audit Officers / Pay and Accounts Officers / Director of Works Accounts are
requested to keep in view of the appended table while sanctioning and making the final
payments under Group Insurance Scheme for proper implementation of the scheme. Further,
the following instructions shall also be scrupulously followed.
(1) The Head of the Department / Drawing & Disbursement Officer shall be held
responsible for sanctioning the Group Insurance Scheme Final Payments. If any
excess payments are found, the difference amount shall be collected and remitted by
the sanctioning authority and such Officers are liable for disciplinary action.
(2) The Drawing & Disbursement Officer shall recover the correct rate of subscription
according to the eligible group of the employees. For any excess / less recovery,
the D.D.O. concerned shall be held responsible.
(3) The Director of Insurance, Andhra Pradesh, Hyderabad shall conduct a regular Audit
of all claims paid under Group Insurance Scheme and send a report to the Head of the
(4) The Head of the Department concerned shall take action against the erring Officials
who are responsible for the excess / less recoveries wherever they are detected.
(5) Any excess payment made, if found during the Audit by the Directorate of Insurance,
the same shall be immediately recovered from the concerned and remitted through
challan to the concerned Head of Account by the D.D.O. and the fact of remittance
shall invariably be communicated to the Directorate of Insurance.
(6) If an employee’s subscription is not recovered during his service period, the total
subscription along with interest shall be recovered from the Payments admissible to
(7) All the Heads of Offices should take prompt action for recording the necessary
subscription entries in the Service Registers of the employees under proper
attestation every year at the close of March, and a certificate shall be recorded in
the Service Book of each employee that subscriptions to the scheme at the appropriate
rates have been recovered for the period from April to March. The entries shall be
attested by the Drawing & Disbursing Officer.
(8) As per G.O.Ms.No. 910 Finance (Admn.II) Department, dated 28-10-2002,
“sanctioning authority shall send a copy of sanction orders of the Group
Insurance Scheme Payment including calculation slip to the Directorate of
Insurance for verification”.
9. The Director of Insurance is further advised to obtain the revised rates of interest from
the Government of India and submit the proposals to the Government in advance every year
so as to issue orders in time.
G.O.Ms.No.126 Dated: 29-05-2013 GIS–Revised Rate of Interest Download
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