Need Of Pension Schemes In India

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Written by:

Melissa C


Date added:

May 23, 2016







No of pages / words:

15 / 4107


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2273 times


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The only old age security available in India is for people working in the Central or State Government enterprises or Public Sector. Once these sector were the biggest employers in the country, therefore covering a vast portion of the working population. This security scheme left out the people in the agricultural and the unorganized sector which was a very large population...
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With rapid development and industrialization and the privitasation drive a huge population today works in industries that provide no old age security in the form of pension. 78% of the working population today is employed in sectors that provide no pension. [1] The current state of pensions in India is the result of individual plans developed and amended over several decades, rather than of a comprehensive and coherent approach to old age income security and social protection, based upon a guiding set of principles...
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