A case for universal pension

Abstract

It will cover the vast majority of our population, unlike a contributory pension scheme The Pension Fund Regulatory and Development Authority Bill, 2011, was finally passed by the Parliament, after a delay of nearly a decade. The Bill, an important landmark in the pension history of India, would provide pensioners with a choice of schemes as well as permit foreign direct investment in pension funds. In a welfare state, old age social security remains pivotal, and one of its major components is pension. Post independence, pension schemes were consolidated and expanded to provide retirement benefits to the entire public sector working population. Further, several provident funds were also set up to extend coverage among the private sector workers and the general public. Read more at: https://www.thehindubusinessline.com/opinion/a-case-for-universal-pension/article22995394.ece