July 2024
08Jul

Empowering India’s Gig Workers: The Need for Comprehensive Legislation

In the bustling streets of India's cities, where the hum of traffic meets the aroma of street food, a new workforce is silently shaping the future. These are the gig workers  the delivery drivers rushing through narrow lanes to bring you a warm meal, the freelance coders burning the midnight oil to meet a deadline, and the rideshare drivers ensuring you reach your destination safely. They are the backbone of a rapidly growing digital economy, offering flexibility and convenience...

July 8, 2024
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December 2023
15Dec

India. About 95% of country’s population uninsured, reveals report

As much as 95 per cent of the country's population is uninsured despite the government and the insurance regulator's efforts to expand coverage, the National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions -- as recommended in...

December 15, 2023
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October 2023
24Oct

China, India face daunting challenge to grow retirement security amid demographic, cultural shifts

Retirement systems in China and India, home to the world's largest populations with around 1.4 billion people in each country, are still in nascent stages but are expected to grow as their economies expand and their demographics shift. In both countries, the first pension pillar — a state-sponsored pension system — has been seen as inadequate, and the second pillar — employer-sponsored retirement plans — is often insufficient in meeting people's rising post-retirement needs. A third pillar focused on building...

October 24, 2023
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17Oct

The silver lining in India’s imminent ageing problem

India’s youthful population is often described as a key strength of the economy. India is among the youngest emerging market nations, and will remain so in the near future—a demographic dividend that makes it an attractive investment destination. According to the United Nations, a country is considered to be “ageing" if the share of the population over the age of 65 is more than 7%, “aged" when the share exceeds 14%, and “super-aged" when it crosses 20%. India will...

October 17, 2023
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September 2023
26Sep

India. Around 90% regret not saving early for retirement, shows study

It is important to start saving early for retirement. In a recently-concluded study, it was revealed that a vast majority of people (90%) wish they had initiated retirement savings earlier, underscoring the significance of proactive financial planning. The study also revealed that Western India shows the least sense of security towards a peaceful retirement life compared to other zones. The India Retirement Index Study (IRIS), carried out by Max Life Insurance in partnership with Kantar, also revealed deep insights into the...

September 26, 2023
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22Sep

Canada pension funds stay committed to India investments amid diplomatic tensions

Amid India-Canada diplomatic tensions, Canadian pension funds have retained their substantial Indian equity holdings, demonstrating a steadfast long-term approach. Market experts believe that Canadian investors continue to show commitment to India, minimising the influence of current tensions on their investments. "Pension funds, known for their long-term investment perspective, typically do not react hastily to such geopolitical events. They maintain a strategic outlook and are likely to wait for developments before making any major adjustments. There's a reasonable expectation that this...

September 22, 2023
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July 2023
23Jul

Accounting for Pension and Post-Retirement Benefits in Companies

By Anetha Kumanireng, Reniati Marimpan & Veronika Tombi Layuk After leaving work, retirement is an importan phase in one's life. Companies must prepare for retirement well. One of the elements that must be considered is the accounting for pensions and post-retirement benefits. This article will discuss the importance of this accounting for companies. Source @SSRN

July 23, 2023
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June 2023
28Jun

India. Balancing Old and New Pension Systems: Neglected Pensioners and PFRDA’s Role

The ongoing debate surrounding the Old Pension Scheme (OPS) and the New Pension System (NPS) must not overlook the most affected group – the pensioners. While political parties, economists, and think tanks engage in discussions about the advantages and risks of each system, elderly individuals relying on these pensions continue to be forgotten. The OPS has a long history dating back to British Colonial Rule in India, initially introduced in 1881. It has evolved over the years, extending its coverage...

June 28, 2023
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May 2023
17May

The whys and wherefores of pension adequacy in India

While a pension of 50% of last salary may seem reasonable in view of the fact that some expenses such as on commuting, housing and dining get reduced after retirement, other expenses, such as on health care, travelling and insurance increase and offset savings to some extent. Some financial planners speak of the 80% rule, which states that one needs 80% of last salary to have a reasonably comfortable life after retirement. There is some merit in this argument There...

May 17, 2023
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12May

Social Security of Labour in India

By Ishita Arora The social security of labour in India is a critical issue that needs to be addressed. The country's labour force is massive, and ensuring their protection and well-being is crucial to their quality of life and the country's economic development. This research paper aims to explore the current state of social security for workers in India, including policies and programs aimed at providing protection and support to individuals and families against social and economic risks such as...

May 12, 2023
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