Senior Citizens - Moneylife

Senior Citizens - Moneylife

My VIEW:

Government has to take
the responsibility to ensure social security in general and care of the elderly
and the disabled particularly. At this point I am not just on the issue of
adequacy of old age pensions or share of healthcare in the budget. The euthanasia
administered on a regular pension system that was in place in the organised
sector(Yes, I am referring to introduction of NPS to camouflage the country’s
unpreparedness to start funding the existing pension schemes- remember this was
done to satisfy the spokespersons of a country which has an unfunded pension
liability of over $4 trillion!) has added to the agonising situation faced by Indian
middle class. Now wage bills have to factor in adequate pension component and
the employers/employees in the organised sector will have to be guided to
ensure that this component goes into a reliable pension fund.
As regards the inadequacy
of old age pension, time is opportune to think in terms of affordable care
homes, food coupons and availability of reasonably good food at affordable
costs.


M
G Warrier

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