retirement planning

PENSIONS IN INDIA: CHALLENGES AND REFORMS

India’s pension system is evolving from a limited government-backed entitlement framework to a broader, contributory, and market-linked architecture. While schemes like NPS, APY, PM-SYM and digital reforms have widened access and increased assets to over ₹16 lakh crore, coverage remains uneven—especially for informal workers, who form the majority of the labour force. Key challenges persist in pension adequacy, fiscal sustainability, and public awareness. Strengthening inclusion, improving returns, and building trust are central to shaping a more secure retirement landscape for India’s ageing population.