Pension sector needs boost to improve social security coverage: Eco survey

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Pension sector needs boost to improve social security coverage: Eco survey - Business Standard

Quick Summary:

In principle, it said, taking into consideration both scalability and sustainability, India's pension system design seems robust and stable, the survey tabled in Parliament said.

The Economic Survey 2024-25 on Friday made a case for scalability of pension coverage to bring more people under the social security net.

Despite significant advancements in the pension sector, just 5.3 per cent of the total population is covered by the National Pension System (NPS) and Atal Pension Yojana (APY) combined.