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Need comprehensive and sustainable pension system in India: FICCI-KPMG

Need comprehensive and sustainable pension system in India: FICCI-KPMG

Mar 16, 2017, at 04:50 am

Kolkata / New Delhi, Mar 15 (IBNS): In order to embark upon the ambitious journey towards a pensioned society, India would require a systemic approach for designing a coherent pension system. As a measure of the enormity of the challenge that India faces, the 2011 Census showed that only 12 per cent of the Indian working population (i.e. approximately 58 million) were covered under any pension plan. The pension savings of the covered population are also not adequate, FICCI – KPMG Knowledge paper on employee pensions in India has stated.