Ageing in India: Need for Universal Pension Scheme
Economic & Political Weekly, May 2, Vol. 50(18), 41.
7 Pages Posted: 26 May 2015 Last revised: 25 Nov 2015
Date Written: May 2, 2015
India has low pension coverage, and the pension system is unable to fulfill its purpose. A non-contributory, basic pension can guarantee a regular income in old age to all residents of the country, regardless of earning or occupation. The feasibility of introducing such a pension in India is explored in this paper. It is argued that a properly crafted universal pension scheme will increase the coverage of pension without putting stress on the fisc.
Keywords: Universal Pension, Ageing, Aging, Simulations, Projections
JEL Classification: A00, E00, H00, J00
Suggested Citation: Suggested Citation