The way forward for India's National Pension System
Renuka Sane () and
Susan Thomas ()
Indira Gandhi Institute of Development Research, Mumbai Working Papers from Indira Gandhi Institute of Development Research, Mumbai, India
This paper examines the existing implementation of the National Pension Scheme against the goals with which it was created. It finds that there are certain critical areas in which the NPS has deviated. These include multiplicity of schemes, lack of investment choice, low transparency of the system, and a lack of focus on keeping asset management fees low. These gaps are well understood and can be corrected with regulatory interventions. There remain other policy issues that need to be addressed. These include well designed payout policies, and occupational pension systems that will leverage the institutional development of the NPS to include the informalworkforce.
Keywords: Investment choice; intermediation fees; intermediaries; distribution channels; pension payout; annuities; occupational pension systems (search for similar items in EconPapers)
JEL-codes: G28 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ind:igiwpp:2014-022
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