April 2022
13Apr

Pinbox gets seed capital from ADB Ventures to expand micro pension coverage in India

ADB Ventures, a platform of Asian Development Bank, has provided seed funding to Pinbox for expanding micro pension coverage in India. Read also Kenya. Pensions raise investments in offshore, private equity Pinbox works to address friction and accessibility challenges in delivering micro pension and insurance solutions to underserved informal sector workers, ADB Ventures said in a statement. It provides a ready-to-deploy micro pension technology platform globally to governments and regulators who are seeking to expand pension and insurance coverage .. Read also Australia....

April 13, 2022
News, , ,
Read more...

March 2022

Labour Ministry launches ‘Donate-a-Pension’ initiative: Check details
08Mar

India. Labour Ministry launches ‘Donate-a-Pension’ initiative: Check details

Union Labour and Employment Minister Bhupender Yadav launched the 'Donate-a-Pension' program under Pradhan Mantri Shram on Monday. This move is to make the process of creating and contributing to a pension fund for support staff easier. Union Labour and Employment Minister, Bhupendra Yadav tweet, “Launched ‘Donate-a-Pension’ programme at my residence by donating to the gardener. It is an initiative under (PM-SYM) pension scheme where citizens can donate the premium contribution of their immediate support staff such as domestic workers, drivers,...

March 8, 2022
News, Slider, ,
Read more...

February 2022
09Feb

India’s APY scheme sees gradual increase in membership

The number of subscribers under the government-administered pension scheme, the Atal Pension Yojana (APY), has exceeded 7.1m as of 24 January this year, Parliament has been told. “As per information received from PFRDA, 7,106,743 subscribers have been enrolled under APY up to 24 January 2022, during the financial year 2021-22,” Minister of State for Finance Bhagwat Karad said in a written reply in the Rajya Sabha, the upper house of Parliament. In FY20 (the financial year ended 31 March 2020), there...

February 9, 2022
News, Slider, ,
Read more...

January 2022
07Jan

India’s jobs crisis is more serious than it seems

Jitendra Maurya was one of more than 10,000 jobless young people who turned up for interviews for 15 low-skilled government jobs in the central state of Madhya Pradesh. Many of them were overqualified - aspirants, according to one report, included post-graduates, engineers, MBAs and people like Maurya, who is preparing for a judge's exam, according to a BBC report. "The situation is such that sometimes there is no money to buy books. So I thought I will get some work [here],"...

January 7, 2022
News, Slider, , ,
Read more...

December 2021
28Dec

India’s expanding gig economy must treat workers fairly

The gig economy and its growing fault lines between gig employees and platform companies are in the news again, with 50 women “partners" of Urban Company’s (UC) salon and spa vertical protesting against policy changes that will come into effect from January. These, they claim, will affect their ability to earn and are therefore “unfair labour practices". The company, India’s largest home-services provider, has filed a lawsuit in Gurugram’s district court against the protests. The judgement in this case...

December 28, 2021
News, Slider, , ,
Read more...
20Dec

PinBox pushes to bring more global workers into retirement savings tent

Gautam Bhardwaj is aiming to get 100 million workers in the informal sectors of India's economy — from Uber drivers to farmers to domestic servants — to start saving for retirement over the next five years. For the co-founder and director of Singapore-based pension-tech provider pinBox Solutions Pte. Ltd., that amounts to a quick pivot from an initial success in Rwanda — where in close collaboration with the government, pinBox helped 1.5 million informal sector workers, a quarter of that...

December 20, 2021
News, Slider, , ,
Read more...
03Dec

Old-Age Pensions and Female Labour Supply in India

By Vidhya of Unnikrishnan & Kunal Sen Whether cash transfers have unintended behavioural effects on the recipient household’s labour supply is of considerable policy interest. We examine the impact’ of the Indira Gandhi National Old-Age Pension Scheme (IGNOAPS) on prime-age women’s labour supply decisions in India, where female labour force participation continues to decline over time. We use propensity score matching (PSM) to make households with IGNOAPS recipients comparable with program non-recipients. Further, we use individual fixed effects (FE) to...

December 3, 2021
Articles, Labor Market, , ,
Read more...

November 2021

India's fertility rate falls below replacement level. What it means.
26Nov

India’s fertility rate falls below replacement level. What it means.

India's national Total Fertility Rate (TFR) has fallen below 2.0 for the first time, as per the latest National Family Health Survey (NFHS). The findings covered 11 states and three union territories that were not included in the first set of data released in December 2020. The latest set of findings of the NFHS 2019-21 survey released by the Union Health Ministry on Wednesday revealed that the average number of children born to a woman over her lifetime has dropped...

November 26, 2021
News, Slider, , ,
Read more...
09Nov

India’s informal economy more than halved

The Reserve Bank of India’s digital payments index also captures the spread of digital, taking into account growth in the payments infrastructure. Of the four key objectives of demonetisation, India appears to have done well on three. There has been a rise in digital transactions. Besides this, there has also been a drop in fake currencies. Counterfeit notes detected continued to fall from 3.1 lakh in FY19 to 2.9 lakh in FY20 and 2 lakh in FY21. There are also...

November 9, 2021
News, Slider, , , ,
Read more...
08Nov

India:Govt looks into inclusive system for retirement income

The central government is considering launching a drive to provide retirement benefit cover to nearly 380m people in the uncovered workforce in the country, so as to narrow the gap between higher life expectancy and lack of retirement income support. Inter-ministerial consultations are taking place on how to achieve this goal. “The idea is everyone should be in one of the schemes,” an official told The Financial Express. Currently, around 120m workers, the bulk of whom in the organised sector, enjoy...

November 8, 2021
News, Slider, , ,
Read more...