CGEGIS Scheme 2024: Updated Benefit Chart for Central Govt Workers
CGEGIS Scheme Table of Benefits, Subscription Rates 2024: The Table of Benefits and Subscription Rates for the CGEGIS Scheme in 2024 cater to the needs of Central Government Employees. This dedicated group insurance scheme ensures financial security by offering a lump-sum insurance cover in exchange for a modest monthly contribution.
Established in the 1970s, the scheme was highly regarded for its significant sum assured, all for a nominal monthly premium of Rs.10. While traditional in its approach, the CGEGIS scheme faces competition from modern insurance providers offering generous sum assured amounts nearing a crore with minimal premiums under Term Insurance plans. Nevertheless, this scheme remains a compulsory offering for government employees, despite the allure of other contemporary options on the market.
Table of Contents
CGEGIS Scheme 2024 Overview
Topic | CGEGIS Scheme Table of Benefit Table |
Department | Department of Expenditure |
Scheme | Central Govt Employees Group Insurance Scheme |
Beneficiaries | Central Govt Employees |
Table Effect From | April to June 2024 |
Published on | 9.7.2024 |
Interest Rate | 7.1% |
Official Portal | doe.gov.in |
Home Page | Click Here |
Latest CGEGIS Scheme Benefit Table 2024
In April, May, and June 2024, the Department of Expenditure released an updated benefit schedule for the maturity fund within the CGEGIS program catering to central government staff. To exemplify, let us consider the scenario for June 2024, wherein an initial entry dating back to 1982 displayed a steady accumulated value of 54277.57. This figure persisted unaltered with a monthly input of Rs.10 until the year 1889, at which point it rose to Rs.15.
CGEGIS Table from Apri to Jun 2024 | PDF Download |
CGEGIS Table from Jan to Mar 2024 | PDF Download |
Calculate CGEGIS Retirement Benefits – Step-by-Step Guide
Calculating retirement benefits under the CGEGIS Scheme involves determining the maturity amount of savings funds based on the latest benefits table issued by the Finance Ministry. The Department of Expenditure updates the savings fund benefits table quarterly, covering periods from January to March, April to June, July to September, and October to December. This table outlines the exact amount that will be paid to retiring employees. For a seamless calculation process, utilize our specialized online tool available on the website.
Revised CGEGIS Subscription Rates for Categories A, B, C, and D
After the 7th Pay Commission was put into effect, the CGEGIS Contribution rates have undergone changes corresponding to the categorization of positions in Groups A, B, C, and D (Group D has been removed). Until the new revised rates are formally disclosed, the current subscription fees will continue to apply to all Central Government staff members. The current subscription fees are detailed below:
Group | Old Rates | Revised Rates (Before Enrolment) | Revised Rates (After Enrolment) |
A | 80 | 40 | 120 |
B | 40 | 20 | 60 |
C | 20 | 10 | 30 |
D | 10 | 5 | 15 |
Please be aware that as of January 2011, individuals previously categorized as Group D employees and reassigned to Group C with a Grade Pay of Rs.1800 will be charged a monthly subscription fee of Rs.30.