AGREEMENT OF GROUP INSURANCE SCHEME FOR GOVERNMENT EMPLOYEES

The government of the Punjab contracted with State Life Insurance Corporation of Pakistan for Group Insurance for the Govt. Employees w.e.f 01.07.2020 to 30.06.2020.

The government of Punjab through the process of open bidding has awarded a contract to the State Life Insurance Corporation of Pakistan for Group Term Insurance for the employees of the Punjab Government for a period of three years w.e.f 01.07.2020 to 30.08.2023 under the provisions of Punjab Government Employees Welfare Fund Ordinance, 1969. The annual and monthly rates of premium deduction, with effect from 01.07.2020 in respect of different categories of employees of Punjab Government are as follows: 

It is requested that necessary instructions may immediately be issued to all Drawing and Disbursing Officers of respective departments for compliance, ensuring deduction of Group Insurance Premium according to above-mentioned rates with effect from 01.07.2020 while sanctioning pay bills of the employees under their administrative control. As regards, Government Employees in BS-1 to BS-4, the Government of Punjab shall pay 1/4 of the total premium ie Rs. 16.75 per month per employee, to the State Life Insurance Corporation of Pakistan and the balance premium of Rs 50.25 per month shall be deducted from monthly salaries at its source of the employee in BS-01 to 04.

It is further directed that all Departmental Heads ensure that w.e.f 01.07 2020 all claims pertaining to Group Term Insurance i.e. in-service death or death within five (05) years of retirement, shall now be referred to General Manager. Group & Pension State Life Insurance Corporation of Pakistan, 15-A. Davis Road, Lahore for the purpose of payment after fulfilling all codal formalities.

Leave a Reply

Your email address will not be published. Required fields are marked *

This section (Read Next) requires plugin WP Post Blocks installed and activated