General Insurance Employees Pension Scheme 1995
In the said scheme in paragraph 3 a.
General insurance employees pension scheme 1995. 585 e dated 28 06 1995 framed the general insurance employees pension scheme 1995 to introduce an index linked pension scheme in lieu. General insurance employees pension amendment scheme 2019 government of india vide gazette notification no. Provisions of general insurance employees pension scheme 1995 note. To whom the scheme is applicable.
Pension is the scheme regulated under general insurance employees pension scheme 1995. What is the date of commencement of scheme. To read or print pdf you will need the adobe acrobat reader version 4 0 or later installed on your computer. General insurance employees pension amendment scheme 2019 government of india vide gazette notification no.
Short title and commencement. 3 notwithstanding anything contained in sub paragraph 2 of general insurance. The new pension scheme based on defined contribution the general insurance employees pension scheme 1995 is amended accordingly with effect from the 1st day of january 2004. 1 this scheme may be called the general insurance employees pension scheme 1995.
In the general insurance employees pension scheme 1995 hereinafter referred to as the said scheme in paragraph 2 in clause t in sub clause ii after the words and figures contained in paragraph 4 the words figure and letter or paragraph 4a shall be inserted. In april 1997 employees of lic and public sector general insurance companies namely gic nicl oicl. 2 save as otherwise expressly provided in this scheme this scheme shall be deemed to have come into force on the 1st day of november 1993. As per chapter 1 para 1 the commencement date is 1st november 1993.
Pension was introduced as a retirement benefit in psics with effect from 28th june 1995. Employee deposit linked insurance scheme edli coverage for the employees has been increased from rs. 1 56 lakhs rs 3 lakhs. General insurance employees pension amendment scheme 2019.
In exercise of the powers conferred by section 17a of the general insurance business nationalisation act 1972 57 of 1972 the central government hereby makes the following scheme further to amend the general insurance employees pension scheme 1995 namely.
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