How terribly strange to be 70 | Business Line

How terribly strange to be 70 | Business Line


Hopefully, this well-researched and forcefully argued piece on future of old age care in India will open a debate that will lead to a review and overhaul of existing pension and old age care systems in the country and an immediate revision of the structure of the new National Pension System(NPS).
NPS has built-in deficiencies emanating from:
  • Its introduction without legal mandate about ten years back and remaining in suspended animation without clarity on its structure and future.
  • The scheme’s inability to attract members from outside the captive clientele, namely new employees who joined government and public sector employees who joined service after December 31, 2003. Of the NPS corpus of about 40,000 crore only 12 per cent is from outside this category.
M G Warrier, Mumbai

 


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