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of <h1>Valuation of assets and liabilities now requires periodic actuarial or valuer assessment with government-approved appointments and specified intervals.</h1> Section 119 prescribes mandatory valuation of each fund maintained by a social security organisation or establishment by a valuer or actuary appointed with prior approval of the appropriate Government. It mandates annual valuation for the Central Board, valuation once every three years for a Corporation, and valuation intervals for other organisations as specified by the appropriate Government; the appropriate Government may also direct alternative intervals where necessary. The provision applies to assets and liabilities of funds and requires appointment procedures and periodicity to ensure actuarial or valuation assessment of fund positions. Commencement notified w.e.f. 21-11-2025.
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