Implementing an inclusive and equitable pension reform: lessons from India's new pension scheme
Kim, Cheolsu
- London Routledge 2012
- xv, 272 p.
Includes bibliographical references and index.
India is aging. One response of Indian policy makers has been introduction of the New Pension Scheme (NPS), a defined contribution pension scheme which is mandatory for civil servants and voluntary for the rest of the population. Given the size of the target population, even if take-up is modest, NPS savings may soon provide huge amounts of capital to India's economy. However, challenges are abound. What governance structure will best achieve the ultimate policy goal of serving the needs of savers? What business processes and information technology design will serve members best? How effectively will the NPS attack the problem of old-age poverty?