India’s pension system covers only 12% of the workforce, leaving 85% of informal workers unprotected. A three-tiered, inclusive framework with mandatory, occupational, and voluntary pensions, alongside financial literacy and robust regulations, is crucial to ensure scalability, sustainability, and dignity in retirement as India’s old-age dependency ratio rises by 2050.
India must design a unified, inclusive pension system to ensure old-age financial security across all sectors, especially for informal and gig workers.
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