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REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-28072025-265041
EXTRAORDINARY
PART II-Section 3-Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 3392]
NEW DELHI, MONDAY, JULY 28, 2025/SHRAVANA 6, 1947
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.
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.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054. SARVESH KUMAR
SRIVASTAVA
KUMAR SRIVASTAVA
Date: 2025.07.28 21:13