Overview
- The committee is chaired by M. S. Sahoo, former IBBI chief, and includes specialists in law, actuarial science, finance, insurance, capital markets and academia.
- Its mandate covers legally enforceable models for guarantees, including exploring constructs such as novation and settlement.
- The panel will define operational standards, including lock-in periods, withdrawal limits, pricing mechanisms and fee structures for service providers.
- It will propose risk management norms and provider safeguards, including capital and solvency requirements, and assess tax treatment for in-system payouts.
- The body can invite external experts, will mandate standardized disclosures to prevent mis-selling, and has been designated a standing advisory committee, with recommendations to follow and no final rules issued yet.