December 2021
03Dec

Old-Age Pensions and Female Labour Supply in India

By Vidhya of Unnikrishnan & Kunal Sen Whether cash transfers have unintended behavioural effects on the recipient household’s labour supply is of considerable policy interest. We examine the impact’ of the Indira Gandhi National Old-Age Pension Scheme (IGNOAPS) on prime-age women’s labour supply decisions in India, where female labour force participation continues to decline over time. We use propensity score matching (PSM) to make households with IGNOAPS recipients comparable with program non-recipients. Further, we use individual fixed effects (FE) to...

December 3, 2021
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November 2021

India's fertility rate falls below replacement level. What it means.
26Nov

India’s fertility rate falls below replacement level. What it means.

India's national Total Fertility Rate (TFR) has fallen below 2.0 for the first time, as per the latest National Family Health Survey (NFHS). The findings covered 11 states and three union territories that were not included in the first set of data released in December 2020. The latest set of findings of the NFHS 2019-21 survey released by the Union Health Ministry on Wednesday revealed that the average number of children born to a woman over her lifetime has dropped...

November 26, 2021
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09Nov

India’s informal economy more than halved

The Reserve Bank of India’s digital payments index also captures the spread of digital, taking into account growth in the payments infrastructure. Of the four key objectives of demonetisation, India appears to have done well on three. There has been a rise in digital transactions. Besides this, there has also been a drop in fake currencies. Counterfeit notes detected continued to fall from 3.1 lakh in FY19 to 2.9 lakh in FY20 and 2 lakh in FY21. There are also...

November 9, 2021
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08Nov

India:Govt looks into inclusive system for retirement income

The central government is considering launching a drive to provide retirement benefit cover to nearly 380m people in the uncovered workforce in the country, so as to narrow the gap between higher life expectancy and lack of retirement income support. Inter-ministerial consultations are taking place on how to achieve this goal. “The idea is everyone should be in one of the schemes,” an official told The Financial Express. Currently, around 120m workers, the bulk of whom in the organised sector, enjoy...

November 8, 2021
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October 2021
19Oct

India’s pension system needs impetus to ensure adequate retirement income: study

India needs to undertake strategic reforms to revamp the pension system so as to ensure adequate retirement income, revealed the 2021 Mercer CFA Global Pension Index survey (MCGPI) released on Tuesday. The Indian pension system ranked 40th on the overall index ranking out of 43 systems and had the lowest rank in the adequacy sub-index. The primary objective of this annual survey by Mercer Consulting, a leading global management consulting firm, is to benchmark each retirement income system using more...

October 19, 2021
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08Oct

Pension Fund Management Software Market to Witness Huge Growth by 2026: Oracle, Visma, Aquila Software

Advance Market Analytics published a new research publication on “Pension Fund Management Software Market Insights, to 2026” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Pension Fund Management Software market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in the study are: Oracle Corporation (United...

October 8, 2021
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September 2021
08Sep

India. PFRDA proposes changes in premature exit rules for Atal Pension Yojana, facilitates timely payment of money

By Navneet Dubey To increase acceptability of Atal Pension Yojana (APY) scheme among informal sector workers, the Pension Fund Regulatory and Development Authority (PFRDA) has proposed modifications in premature exit processing for the benefit of subscribers. APY is a social security scheme administered by PFRDA through banks and the department of post. The scheme offers guaranteed pension benefits to eligible citizens after reaching the age of 60 years, who subscribe and contribute to the scheme. According to a PFRDA circular issued on...

September 8, 2021
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06Sep

India. Atal Pension Yojana dominates social security scheme with 66% NPS subscriber base

Atal Pension Yojana has emerged as the most popular social security scheme under the National Pension System with over 2.8 crore subscribers, mainly from the non-metro centres. Out of 4.2 crore National Pension System (NPS) subscribers, over 66 per cent or 2.8 crore opted for the APY at the end of 2020-21, says the annual report of the National Pension Systems Trust (NPS Trust). The State Government Scheme ranks second with 11 per cent share, while the central autonomous bodies (CAB)...

September 6, 2021
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August 2021
31Aug

India. Pensioners’ body urges Govt to exempt pension from income tax; seeks PM’s intervention

Pensioners' body Bharatiya Pensioners Manch has urged Prime Minister Narendra Modi to exempt pension from income tax to provide relief to the senior citizens in the country. In a letter shot off to the Prime Minister on August 25 this year, the body argued that if the pensions of the Members of Parliament and Members of Legislative Assemblies are not taxable, then why does the government levy income tax on the pension of retired employees. "Every retired person is paid pension...

August 31, 2021
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18Aug

India: Advisory panel recommends increasing retirement age

The Economic Advisory Council to the Prime Minister has recommended increasing the retirement age saying life expectancy is expected to continue to increase due to better health infrastructure. In a report released last week, the Council said the retirement age needs to be raised in a phased manner as India is a young nation with a high working population, reported Hindustan Times citing the report. Read also Pakistan’s unsustainable public pension system The Council also warned, “A rise in the retirement age,...

August 18, 2021
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