- This approval will help SLIC to manage the annuity component of the maturity proceeds under the New Pension Scheme (NPS).
- The certification by the PFRDA will enable the insurer to cumulate NPS subscribers under its Immediate Annuity Plus plan.
- Through the ASP, SLIC will assist in mobilizing 40% of the NPS maturity amount, making it open to investment in its annuity schemes.
- Annuity Service Provider is an Insurance Regulatory and Development Authority of India (IRDAI)-registered insurance company enlisted by PFRDA for delivering Annuity Services to NPS subscribers upon their exit from the system.
- SLIC was established in 2005 with its headquarters in Hyderabad. The current MD & CEO of the company is Casparus Kromhout.
Question:
Q.1 Recently the PFRDA certified ______ to be empanelled as an Annuity Service Provider.a. PNB Metlife
b. Shriram Life
c. Canara HSBC
d. IndiaFirst
