Currently showing: Funding longer lives > Pension/retirement


05 Jun 13 14:28

Thousands of older people from across India gathered in New Delhi in March to peacefully protest for their rights to a pension - this resulted in a statement from the Government of India that they would make an unprecedented commitment to improve the Indira Ghandi National Old Age Pension Scheme (IGNOAPS), and ensure every older person receives a pension.

How this commitment will transpire remains to be seen; but what it does remind us of is the collective power of many voices.

India agrees on universal pension | Latest news | HelpAge International

www.helpage.org

The Government of India has made an unprecedented commitment to improve the Indira Ghandi National Old Age Pension Scheme (IGNOAPS) and ensure every older person receives a pension.


Category: Funding longer lives: Pension/retirement

Location: India


4 Comments

Jennifer Rodney - 5 Jun 2013, 8:53 p.m.

Great news about the Indian government's commitment to improve the pension scheme - but I'm very curious to hear how they plan to fund it as I just found out today that only 3% of Indians pay income tax! http://www.bbc.co.uk/news/magazine-22772391

Nicola Oliver - 6 Jun 2013, 7:19 a.m.

I guessed it was certainly low....as I said lets see how events transpire but one thing is certain - it has raised the profile by the actions of the protest groups

Paritosh - 6 Jun 2013, 8:20 a.m.

Thats actually a tough problem, which hope is about to get solved. There is a new system being implemented with full force, called Aadhar Card (http://uidai.gov.in/). Its somewhat similar to the SSN used in US. Each of these Aadhar card will be linked to a bank account and this is how the people can benefit from government funds.

Aravinda Meera Guntupalli - 6 Jun 2013, 4:55 p.m.

As stated by the Ministry of Rural Development recently, there are 27 million beneficiaries of pension schemes (old age pension, widow pension and disability pension) in India. The Government of India has currently agreed to increase the old age pension from rupees 200 (3.5$) to rupees 300 (5.3$). I appreciate the increase and I support the policies that aim for further substantial increase in the old age pension in the next years. Compared to the increasing cost of living, the current increase in pension is meagre. It does not take into consideration the costs required for older people to have a healthy and active living. However, one has to pay attention to the social security schemes that are currently discussed: 1.National Food Security Bill (currently under review) 2. Direct cash transfers (interventions are going in some areas).

In addition to these social security measures, the government has to bring tough laws against bribery. Currently, several older people have to pay bribes to various members working in the Department of Treasury to get their pensions (open secret)! With the direct transfers, some of these issues could be tackled.

Let us hope for the best!


If you would like to leave a comment, please, log in.