India will need to develop a robust annuity market if it is to enable its rapidly aging population to address longevity risk. As the fraction aged triples by 2050, driving a huge potential demand for annuity-type products that will need to be matched by responses from annuity providers....

This paper looks into various aspects of the old age pension debate and related policies in India. In the analysis that follows, we address issues such as: the identity of the drivers of change; the political context in which many of these policies emerged; the intrinsic relationship between...

Old age is an indispensable stage of life of a human being which a man cannot refute except ultimate death. The childhood and old age are natural reliant conditions of life where children depend upon parents and vice-versa. Nowadays parents are becoming burdensome for their child whenever they...

The study focuses on the impact of the old age pension or rechristened (Indira Gandhi National Old Age Pension Scheme), a national Old Age Pension Scheme in India on the livelihoods of the poor tribal elderly people in the north-east Indian state of Arunachal Pradesh. The major objective of the...

In an immensely populated country like India, as the years pass by the population is showing an increasing trend, and also the numbers of aged persons has been increasing at a faster pace. Therefore this backdrop leads to the prominence of the social security pension schemes, and the magnitude...

About 88 percent of India's total labor force is composed of informal (officially labeled “unorganized”) workers. As many as 388 million such workers lack old age income security by way of a pension system. The Atal Pension Yojana (APY) is the latest contributory, national-level old age...

This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool...