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GO.MS.No. 90,  Dt. 01.05.2014  GIS Savings-Revised Tables from 1-4-2014 to 31-3-2015

Andhrapradesh State Government has issued a G.O. Ms. No.90 Finance (Admn . II) Department  on 01.05.2014 about Andhra Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of Interest on accumulated Savings Fund Communication of Tables of Benefits for Savings Fund for the Period from 01.04.2014 to 31.03.2015 – Revised Tables

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 :

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 31.10.2004
9 %
G. O. Ms. No. 703, Finance & Planning (FW.Pen.II)
Department, dated : 19.07.2002
01.11.2004 To 30.11.2011
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. Rt. No. 2425, Finance (Pen.II) Department, dated: 10.05.2012
01.04.2012 To 31.03.2013
8.8 %
G. O. Rt. No. 2735, Finance (Pen.II) Department, dated: 16.06.2012

01.04.2013 To 31.03.2014
8.7 %
G. O. Rt. No. 2142, Finance (Pen.II) Department, dated 30.04.2013

           These Orders and Tables shall come in force with effect from 01.04.2014.

The Sanctioning Authorities / Drawing and Disbursement Officers / 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 and Disbursement Officer shall beheld responsible for sanctioning the Group Insurance Scheme Final Payments. If any Excess Payments are found, the Difference Amount shall be collected from the sanctioning Authority and such Officers are liable forDisciplinary Action.

(2)  The Drawing and Disbursement Officer shall recover the Correct Rate of Subscription according to the eligible Group of the Employees. For any Excess / Less Recovery the Drawing and Disbursement Officer shall be heldresponsible.

(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 Department concerned.

(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 Drawing and Disbursement Officer 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 him.

(7) All the Heads of Offices should take Prompt Action for recording thenecessary Subscription Entries in the Service Registers of the Employees under proper Attestation every Year at the close of March a Certificate shall be recorded in the Service Book of each Employee that Subscription 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 and 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”.

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