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

See all articles by Charan Singh

Charan Singh

Indian Institute of Management (IIMB), Bangalore

Kanchan Bharati

Centre for Culture and Development

Ayanendu Sanyal

Mahatma Gandhi Labour Institute

Date Written: May 2, 2015

Abstract

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

Singh, Charan and Bharati, Kanchan and Sanyal, Ayanendu, Ageing in India: Need for Universal Pension Scheme (May 2, 2015). Economic & Political Weekly, May 2, Vol. 50(18), 41., Available at SSRN: https://ssrn.com/abstract=2610570

Charan Singh

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India
080-26993818 (Phone)

Kanchan Bharati (Contact Author)

Centre for Culture and Development ( email )

XTI Campus
Sevasi Post
Vadodara, Gujarat 391 101
India
+91-265 2372001 (Phone)

Ayanendu Sanyal

Mahatma Gandhi Labour Institute ( email )

Drive-in Road
Memnagar
Ahmedabad
India

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