Executive Summary:
This notification, dated July 28, 2025, introduces the General Insurance Employees Pension Amendment Scheme, 2025, further amending the General Insurance Employees Pension Scheme, 1995. The amendment, effective from December 21, 2023, includes Executive Directors in the calculation of pensionary benefits. It aligns with Central Government rules and does not adversely affect anyone's interests.
Key Points / Main Content:
* **Amendment Scheme Details:**
* The scheme is called the General Insurance Employees Pension Amendment Scheme, 2025.
* It came into force on December 21, 2023.
* **Amendments to Paragraph 2 of the 1995 Scheme:**
* In subparagraph (g), clause (i), the words "and Executive Director" are inserted after "ChairmancumManaging Director."
* In subparagraph (k), in the proviso, the words "or Executive Director" are inserted after "ChairmancumManaging Director."
* **Amendment to Appendix-I of the 1995 Scheme:**
* Against serial number (i) relating to the category of employees, the words "and Executive Director" are inserted after "ChairmancumManaging Director."
Impact Analysis:
Central Government:
* Impact: The Central Government's rules regarding pension benefits are extended to include Executive Directors within the General Insurance framework.
* Action Required: Ensure the implementation of the amendment in accordance with established procedures and guidelines.
General Insurance Employees:
* Impact: The inclusion of Executive Directors may have an indirect impact on the overall pension fund.
* Action Required: No immediate action is required.
Executive Directors of the Corporation and the Company:
* Impact: Executive Directors are now included for pensionary benefits calculation.
* Action Required: Understand how the amendment affects their pension benefits and comply with any necessary procedures.
Key Entities Referenced
General Insurance Business Nationalisation Act, 1972: A law that provides the central government powers related to the general insurance business.
General Insurance Employees Pension Scheme, 1995: A pension scheme for the employees of the General Insurance Corporation.
General Insurance Employees Pension Amendment Scheme, 2025: An amendment scheme to the General Insurance Employees Pension Scheme, 1995.
Ministry of Finance: The ministry responsible for financial matters.
Department of Financial Services: A department under the Ministry of Finance.
New Delhi: The location where the notification was issued. New Delhi, Delhi, India
Central Government: The government of India.
Central Civil Services Pension Rules, 1972: Pension rules applicable to Central Government employees.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-28072025-265041
xxxGIDHxxx
CG-DLxx-ExG-I2D8E0x7x2x0 25-265041
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 3392] नई दिल्ली, सोमिार, िलु ाई 28, 2025/श्रािण 6, 1947
No. 3392] NEW DELHI, MONDAY, JULY 28, 2025/SHRAVANA 6, 1947
जित्त मत्रं ालय
(जित्तीय सिे ाए ं जिभाग)
अजधसचू ना
नई दिल्ली, 28 िुलाई, 2025
का.आ. 3470(अ).— केन्द्रीय सरकार, साधारण बीमा कारबार (राष्ट्रीयकरण) अजधजनयम, 1972 (1972 का 57) की
धारा 17क द्वारा प्रित्त िजियों का प्रयोग करत े हुए, साधारण बीमा (कममचारी) पेंिन स्ट्कीम, 1995 का और संिोधन करने के
जलए जनम्नजलजखत स्ट्कीम जिरजचत करती ह,ै अर्ामत्: -
1. (1) इस स्ट्कीम का संजिप्त नाम साधारण बीमा (कममचारी) पिें न (सिं ोधन) स्ट्कीम, 2025 ह।ै
(2) यह स्ट्कीम 21 दिसम्बर, 2023 से प्रिृत्त हुई समझी िाएगी।
2. साधारण बीमा (कममचारी) पेंिन योिना, 1995 (जिसे इसमें इसके पश्चात उि स्ट्कीम कहा गया ह)ै के पैरा 2 म,ें -
(i) उप पैरा (छ) में, खंड (i) में िोनों स्ट्र्ान पर िहां भी “अध्यि सह प्रबंध जनिेिक” िब्ि आते ह,ैं के पश्चात “और
कायमपालक जनिेिक” िब्ि अंत: स्ट्र्ाजपत दकए िाएंगे।
(ii) उप पैरा (ट) के परन्द्तुक म ेंिहां कहीं भी “अध्यि सह प्रबंध जनििे क” िब्ि आत े ह,ैं के पश्चात “या कायमपालक
जनिेिक” िब्ि अंत: स्ट्र्ाजपत दकए िाएंगे।
5042 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. उि स्ट्कीम म,ें पररजिष्ट-I म,ें कममचाररयों की श्रेणी स ेसंबंजधत क्रम संख्या (i) के सामने िोनों स्ट्र्ान पर िहा ंभी “अध्यि
सह प्रबंध जनििे क” िब्ि आते ह,ैं के पश्चात “और कायमपालक जनिेिक” िब्ि अंत:स्ट्र्ाजपत दकए िाएंगे।
[फा. स.ं एस-14011/02/2025-बीमा-I]
प्रिांत कुमार गोयल, संयुक् त सजचि
व्याख्यात्मक ज्ञापन
रटप्पण: साधारण बीमा (कममचारी) पेंिन स्ट्कीम, 1995 भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (ii) में अजधसचू ना
संख्यांक का.आ.585(अ) तारीख 28 िून, 1995 द्वारा प्रकाजित की गई र्ी और तत्पश्चात, अजधसूचना संख्यांक का.आ.475(अ)
तारीख 3 िुलाई, 1996, का.आ.342(अ) तारीख 22 अप्रैल, 1997, का.आ.461(अ) तारीख 18 िून, 1999, का.आ.1221(अ)
तारीख 6 दिसंबर, 1999, का.आ.590 (अ) तारीख 22 िून, 2000, का.आ.775(अ) तारीख 13 अगस्ट्त, 2001, का.आ.1086(अ)
तारीख 2 निंबर, 2001, का.आ.778(अ) तारीख 5 िलु ाई, 2004, का.आ.636 (अ) तारीख 4 मई 2005, का.आ.1794(अ)
तारीख 19 अिूबर, 2006, का.आ.2473(अ) तारीख 8 अिूबर, 2010, का.आ.236(अ) तारीख 23 िनिरी, 2016,
का.आ.1627(अ) तारीख 23 अप्रैल, 2019 और का.आ.3346(अ) तारीख 26 िुलाई, 2023 द्वारा संिोजधत की गई।
केन्द्रीय सरकार ने केन्द्रीय जसजिल सेिा (पेंिन) जनयम, 1972 और केन्द्रीय जसजिल सेिा (पेंिन का संरािीकरण) जनयम,
1981 में अंतर्िमष्ट उन उपबंधों के अनुसार में पेंिन संबंधी फायिे की गणना के जलए जनगम और कंपनी के कायमपालक जनिेिकों को
सजम्मजलत दकए िान ेका अनुमोिन स्ट्िीकृत कर दिया ह,ै िो केन्द्रीय सरकार द्वारा समय समय पर उनके अधीन िारी अनुिेिों और
आिेिों के अनुसार केन्द्रीय सरकार के सेिकों पर लाग ूहोते ह ैंऔर इस प्रकार, सिं ोधन दकसी भी व्यजि के जहतों पर प्रजतकूल प्रभाि
नहीं डालते ह।ैं
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 28th July, 2025
S.O. 3470(E).— In exercise of the powers conferred by section 17A of the General Insurance Business
(Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby frames the following scheme further to amend
the General Insurance (Employees’) Pension Scheme, 1995, namely: -
1. (1) This scheme may be called the General Insurance (Employees’) Pension (Amendment) Scheme, 2025.
(2) This scheme shall be deemed to have come into force on the 21st day of December, 2023.
2. In the General Insurance (Employees’) Pension Scheme, 1995 (hereinafter referred to as the said scheme), in
paragraph 2, -
(i) in sub-paragraph (g), in clause (i) after the words “Chairman-cum-Managing Director” at both the places
where they occur, the words “and Executive Director” shall be inserted;
(ii) in sub-paragraph (k), in the proviso, after the words “Chairman-cum-Managing Director” wherever they
occur, the words “or Executive Director” shall be inserted.
3. In the said scheme, in Appendix-I, against serial number (i) relating to the category of employees, after the
words “Chairman-cum-Managing Director” at both the places where they occur, the words “and Executive
Director” shall be inserted.
[F. No. S –14011/02/2025 Ins.I]
PARSHANT KUMAR GOYAL, Jt. Secy.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3
EXPLANATORY MEMORANDUM
Note: - The General Insurance (Employees’) Pension Scheme, 1995 was published in the Gazette of India,
Extraordinary, Part-II, section 3, sub-section (ii) vide notification number S.O.585 (E), dated the 28th June, 1995 and
subsequently amended vide notification number S.O. 475(E), dated the 3rd July, 1996, S.O. 342(E), dated the 22nd April,
1997, S.O. 461(E), dated the 18th June, 1999, S.O. 1221(E), dated the 6th December, 1999, S.O. 590(E), dated the 22nd
June, 2000, S.O. 775(E), dated the 13th August, 2001, S.O. 1086(E), dated the 2nd November, 2001, S.O. 778(E), dated
the 5th July, 2004, S.O. 636(E), dated the 4th May, 2005, S.O. 1794(E), dated the 19th October, 2006, S.O. 2473(E), dated
the 8th October, 2010, S.O. 236(E), dated the 23rd January, 2016, S.O. 1627(E), dated the 23rd April, 2019 and
S.O. 3346(E), dated the 26th July 2023.
The Central Government has accorded approval to include the Executive Directors of the Corporation and the
Company for calculation of pensionary benefits in accordance with the provisions contained in the Central Civil Services
(Pension) Rules, 1972 and the Central Civil Services (Commutation of Pension) Rules, 1981, as applicable to the Central
Government servants in accordance with the instructions and orders issued by the Central Government thereunder from
time to time and thereby, the amendments do not adversely affect the interests of any person.
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