Group Insurance Scheme - Local Bodies
ABOUT THIS SCHEME:
The maintenance of the Group Insurance Scheme are :
- This 'scheme' will be compulsory for all those 'employees' who enter into Central Govt. Service on or after 1st November, 1980, especially for IAS, IPS, IFS officers. The Principal Secretary/Commissioner of Treasuries and Accounts is the administrator of this Scheme.
- The Subscription amount was initially fixed at Rs. 80/- per month from 1st January 1982 and was enhanced at Rs. 120/- per month from 1st January, 1990.
- The subscriber, on enrolment has to give nomination details.
- The total accumulation (Savings together with interest thereon) will be payable to the subscriber on his/her retirement after attaining the age of superannuation or cessation of his/her service with the Central Government according to Table of Benefits issued by Central Government annually.
- The subscriber on cessation of service should give an Application form in Form No. 4 along with relevant annexures in duplicate, for the payment of accumulations under All India Service Group Insurance Scheme 1980 along with Government Order notifying his/her retirement.
- In the case of the demise of the subscriber while in service, the legal heir(s) will get the accumulation made by the subscriber together with an insurance coverage of Rs. 1,20,000/- for which the legal heir(s) have to produce the following documents
- Application Form in Form No. 4 along with relevant annexures in duplicate ;
- Death Certificate in original ;
- A copy of the order issued by the Government notifying subscriber's death;
- Legal heirship / Succession Certificate issued by the competent authority ;
- No objection certificate/ authorisation from other legal heirs attested by the Notary Public;
- Power of Attorney attested by Notary Public;
- To render better service to the All India Service Officers viz. I.A.S/I.P.S./I.F.S Officers serving under Tamil Nadu cadre.
- To make the advance payment of monthly subscription to Government of India every month
- To monitor the payment/receipt particulars of this scheme.
- To ensure timely settlement of Savings cum Insurance Fund towards this Scheme the Treasuries and Accounts Department is maintaining all sorts of Ledgers and Registers pertaining to this Scheme viz. Nomination Register, Posting Register, Advance Payment Register, Reconciliation Register, Settlement Cheque Register, Stock Register etc.