Annual Membership – FAQs
1. When has the Annual Membership of the Institute to be renewed every Year? Annual
Membership has to be renewed every year in April.
2. How much is the Annual Membership Fee for the year?
| Class of Membership |
Fees in Indian Rupees (INRs.) |
| Fellows and Affiliates |
7,500+(18% GST) = 8850 |
| Associates |
2,500+(18% GST) = 2950 |
| Students |
1,500 |
4. Which category of members become eligible for the Life Membership of the Institute and what is the payable amount?
Fellows, Affiliates and Associates who are more than 60 years as on 1st April every year are eligible for Life Membership of the Institute.
http://www.actuariesindia.org/downloads/Form_for_above_60_Life_Membership.pdf
| Ten times the normal Annual Membership as mentioned above. |
Accepted through offline mode only along with application |
5. How much is the Annual Membership Fee for those who are more than 75 years of age as on 1st April?
No Annual Membership is applicable for members who are above 75 years of age.
7. If the Online payment transaction fails?
- In case the online payment transaction made is not successful, and the amount is debited from your account, then, the debited amount will get Credited into your account within 8 - 10 working
days, in case it does not happen then you need to contact Ms. Gauri Kothari at
headee@actuariesindia.org
- If the International card is not acceptable then you can make payment through wire-transfer.
8. If a member fails to make payment within the scheduled timelines?
The payment should be made online on or before 30th June every year failing which membership will lapse resulting in removal of name from the register of the Institute.
9. How to reinstate inactive status of Membership?
a. Members whose Annual Membership is outstanding only for year:
- If the request for reinstatement is received within three months (i.e. on or before 30th September) of his/her ceasing to be a member (after 30th June), then he/she has to pay the existing Annual
Membership fee plus a penalty of 25% of the Annual Membership fee thereon,
- If the request for reinstatement is received after three months (i.e after 30th September) of his ceasing to be a member, then he/she has to pay the existing Annual Membership fee,
and in addition a penalty of 50% of the Annual Membership fee
b. Members whose Annual Membership is outstanding for more than one year:
Where Annual Membership fee is in arrears for more than one year, reinstatement will be made on payment of 1.5 times of current year applicable Annual Membership fees for the number of
years where Annual Membership fee is in arrears, in addition to the current year Annual Membership fees.
Note:
For Students
Members whose Annual Membership fee is outstanding for more than ten years can do reinstatement of membership through offline mode only.
For Fellows Affiliates and Associates
Members whose Annual Membership fee is outstanding after 30th June can reinstate their membership through offline mode only.
10. Whom do I contact regarding further details on reinstatement of Membership or any other matter relating to Annual Membership fee?
Kindly contact Ms. Prajakta Bhosle at actsoc@actuariesindia.org or at 022-62433333.
11. Whom do I contact in case the payment has failed for some reason?
Please contact Ms. Gauri Kothari (Head – Education and Examination) at headee@actuariesindia.org or at 022-62433338