JJEM: Special Edition 3 (January 2025)
JJEM: Special Edition 3 (January 2025)
2025-01-20
A Study on National Pension Scheme for Government Employees and Challenges
Dharmaraja, Dr. Kundan Basavaraj
The national pension system is plagued by several issues. The progressive decline of traditional old-age support systems, along with a growth in the elderly population, highlights the need for reinforcing formal channels of retirement savings. The reasons for pension reform are also well known: skewed coverage of existing benefit plans favouring the organised workforce while informal employment is increasing; deteriorating financial conditions of government pension plans against a backdrop of rising system expenditure; unfair treatment of private sector workers relative to public sector employees; an underdeveloped private annuity market; and thus, a need to raise the domestic rate of savings through pension reform.
National pension scheme, Challenges, Investment pattern.