PFRDA Invites expression of interest for actuarial valuation of Atal Pension Yojana

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New Delhi: Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday invited expression of interest from reputed Actuary/Actuarial Firm for valuation of Atal Pension Yojana.

The Expression of Interest document is available on PFRDA's website.

“Along with the other conditions, the actuarial firm should have carried out the actuarial valuation of at least 10 funds in the immediately preceding 5 financial years and out of which at least 2 of the funds should have had the minimum fund size of 5000 crore,” an official release said

Prime Minister Narendra Modi had launched Atal Pension Yojana in May, 2015 for all Indian citizens in the age group from 18-40 years.

1.08 crore subscribers have been registered under Atal Pension Yojana( APY ) and more than Rs 4,500 Cr  contribution have been collected from the subscribers under the Scheme till date.

APY is focused on the unorganised sector workers which constitute more than 85 percent of the workforce.

Under this scheme, the guaranteed minimum pension of Rs 1,000 per month or Rs 2,000-5,000 per month will be given at the age of 60 years depending on the contributions by subscribers.

The spouse of a subscriber is also eligible for pension and the nominee receives the accumulated pension wealth.