India | Melbourne Mercer Global Pension Index : Melbourne Mercer Global Pension Index


India


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India’s retirement income system comprises an earnings-related employee pension scheme, a defined contribution employee provident fund and voluntary employer managed funds. The National Pension System is gradually gaining popularity.

The overall index value for the Indian system could be increased by:

  • introducing a minimum level of support for the poorest aged individuals
  • increasing coverage of a pension arrangements for the unorganised working class
  • introducing a minimum access age so that it is clear that benefits are preserved for retirement purposes
  • improving the regulatory requirements for the private pension system
  • continuing to improve the required level of communication to members from pension arrangements
  • increasing the pension age as life expectancy continues to increase
  • increasing the level of contributions in statutory pension schemes.

RRF19921 MMGPI Report 0616 Chart WEB 1000x950 12 INDIA India

Progressive Results:

Year

Overall

Adequacy

Sustainability

Integrity

2016 43.4 39.5 40.9 53.4

The Indian index value increased from 40.3 in 2015 to 43.4 in 2016 primarily due to an increase in the net replacement rate.

2015 40.3 30.0 39.9 57.6
The Indian index fell from 43.5 in 2014 to 40.5 in 2015 primarily due to the revision in the household saving rate.
2014  43.5  37.1  40.6  57.7
The Indian index value increased slightly from 43.3 in 2013 to 43.5 in 2014 due to a number of small changes.
2013

43.3

41.2

40.8

50.3

The Indian index value increased from 42.4 in 2012 to 43.3 in 2013 primarily due to a revised score in respect of the question relating to maintaining the value of benefits after resignation.
2012

42.4

37.4

40.7

52.8

The Indian index value fell from 43.4 in 2011 to 42.4 in 2012 primarily due to our introduction of the Worldwide Governance Indicators.
2011

43.4

37.3

39.4

58.8

Media 2016:

Media 2015:


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