The Annual Membership fees: with effect from 1st April 2016:
| Class of Membership |
Fees in Indian Rupees
(INR) |
| Fellows and Affiliates |
7,500+(18% GST) = 8850 |
| Associates |
2,500+(18% GST) = 2950 |
| Students |
1,500 |
| For Fellows, Affiliates and Associates above
age 60 as on 1st April, and not gainfully
employed in profession or practice or
medically unfit to be gainfully employed
in profession or practice. |
1500+(18% GST) = 1770
(Accepted only through offline mode along with application)
|
| Life membership (optional) who are more than 60 years as on 1st April |
Ten times the normal Annual Membership Fees as mentioned above.
(Accepted only through offline mode along with application)
|
| Members more than 75 years of age as on 1st April |
No Annual Membership Fees Applicable
|
| Change of Category within an Annual Membership year |
Will attract full Annual Membership fees for new category
|
Note :
1. These rates are applicable to all members regardless of their country of residence.
2. Govt. of India has implemented GST by virtue of which the membership and other related fees of the Institute are subject to GST. Accordingly the Associate, Affiliate and Fellow members are
requested to Fellow members are requested to add GST @ 18% on membership and other related fees payable by them to the Institute with effect from 1st April 2018 onwards and pay the same.
A) Failure to make payment : 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.
B) Mode of payment:
1) Online through Members Login (www.actuariesindia.org/login.aspx).
If the transaction fails, then you need to try again by using another card or another browser or contact Ms. Prajakta Bhosle at actsoc@actuariesindia.org or at 022-62433333.
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 the Accounts Manager at accounts@actuariesindia.org
2) Demand Draft or Pay Order
Along with Demand Draft you need to send Annual Membership Renewal Form.
3) Wire-transfer (for members residing outside India)
If the International card is not acceptable then you can make payment through wire-transfer
Note: For payment made through wire transfer, members need to pay additional Rs.500/- as Bank Commission and Wire Transfer charges.
Reinstatement of Membership : Reinstatement can be requested in accordance with the following terms and conditions.
i) 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.
ii) 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.