Purchase - $38.00

Old Age Protection in India: Problems and Prognosis

27 Pages Posted: 19 Mar 2003  

Ranadev Goswami

Indian Institute of Management, Bangalore


This paper reviews the current state of the Indian pension system. The Indian experience could potentially influence policy decisions in other developing countries, especially those with similar reliance on the national provident fund system. Institutional features of various retirement benefit schemes are highlighted and their deficiencies are discussed. It is argued that low coverage level, underperformance of provident fund schemes due to investment restrictions, and financial difficulties in administering unfunded public pension programmes have rendered the current system ineffective and unsustainable. The failed experiments with ad hoc reform initiatives in the recent past further emphasize the need for a structural and lasting change. The paper concludes with some policy directions for reforming the Indian pension system.

Suggested Citation

Goswami, Ranadev, Old Age Protection in India: Problems and Prognosis. International Social Security Review, Vol. 55, pp. 95-121, 2002. Available at SSRN: https://ssrn.com/abstract=309077

Ranadev Goswami (Contact Author)

Indian Institute of Management, Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka

Paper statistics

Abstract Views