EPFO to appoint actuary firm for its pension and insurance schemes

The approved consultant will be empanelled with the EPFO headquarters in New Delhi for a tenure of three years

The Employees’ Provident Fund Organisation (EPFO) is in the process of appointing an actuary firm for the purpose of providing consultancy services to EPFO on matters related to various pension and insurance schemes that it administers.

The statutory body — under the Ministry of Labour & Employment — has issued a request for proposal (RFP) to appoint an actuary or an actuarial firm to study the Employee Pension Scheme (EPS)-1995 and suggest measures to enhance the benefits under the scheme keeping sustainability of the scheme intact.

“The appointed actuary/actuarial firm shall make projections on impact of various amendments/changes in the