 AP Go.13, Revised Rate of Interest on Group Insurance Scheme(GIS) accumulated Savings Fund has been issued by AP Finance(Admin.Di&IF) Department on 24/01/2017, GO.MS.No.13 Dt: 24/01/2017 )
AP Go.13 Revised Rate of Interest on Group Insurance Scheme(GIS) accumulated Savings Fund has been issued by AP Finance(Admin.Di&IF) Department on 24/01/2017. Revised table of benefits for savings fund for the period from 01/01/2016 to 31/12/2016 is as follows.
Group Insurance Scheme(GIS) Revised Rate of Interest Table View
| Financial Year | Rate of Interest | Government Order. |
|---|---|---|
| 11/1984 to 10/1994 | 10% | G.O.Ms.No.293, Finance & Planning (FW.Accts.II) Department, dated: 08-10-1984. |
| 11/1994 to 03/2000 | 12% | G.O.Ms.No.381, Finance & Planning (FW.Admn.II) Department, dated: 05-12-1994 |
| 01-04-2000 to 31-03-2001 | 11% | G.O.Ms.No.63, Finance & Planning (FW.Pen.II) Department, dated: 06-06-2000 |
| 01-04-2001 to 31-03-2002 | 9.5% | G.O.Ms.No.345, Finance & Planning (FW.Pen.II) Department, dated: 07-07-2001 |
| 01-04-2002 to 31-03-2004 | 9% | G.O.Ms.No.703, Finance & Planning (FW.Pen.II) Department, dated: 19-07-2002 |
| 01-04-2004 to 31-11-2011 | 8% | G.O.Ms.No.625, Finance & Planning (FW.Pen.II) Department, dated: 02-09-2004 |
| 01-12-2011 to 31-03-2012 | 8.6% | G.O.Ms.No.2425, Finance (FW.Pen.II) Department, dated: 10-05-2012 |
| 01-04-2012 to 31-03-2013 | 8.8% | G.O.Ms.No.2735, Finance (FW.Pen.II) Department, dated: 16-06-2012 |
| 01-04-2013 to 31-03-2016 | 8.7% | G.O.Ms.No.2142, Finance (FW.Pen.II) Department, dated: 30-04-2013 |
| 01-04-2016 to 31-12-2016 | 8.1/- | G.O.Rt.No.1638, Finance(HR.5 Pen.GPF)deptt dated 27- 06-2016 |
AP Government have issued orders to reduce the rate of interest from 8.7% to 8.1% per annum 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 rates of Government of India until further orders.
Andhra Pradesh Group Insurance Savings Funds shall be allowed at 8.1% per annum from 01.04.2016 onwards. The Table is revised and issued for the periods covering from 01.01.2016 to 31.12.2016 to keep in align with the calendar year as was done by Government of India. (The revised Table is appended to the GO along with illustrations Sheet). This simplified Table is applicable to those who are retired /deceased from 01-01-2016 to 31- 12-2016 i.e. calendar Year 2016 only. The employees who were retired/died on or before 31-12-2015 old tables are applicable.
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