India. NPS drives pension expansion, but coverage remains limited amid informality: Economic Survey 2025-26

India’s pension system has expanded steadily over the past decade, but overall coverage remains limited when measured against the size of the country’s vast workforce, the Economic Survey 2025-26 has said. While participation in formal retirement savings schemes is rising, the Survey flags high informality, irregular incomes and low awareness as the biggest structural constraints preventing broad-based pension inclusion, especially among low-income and rural households. According to the Survey, the dominance of informal employment continues to shape the contours of...