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Pension system requires change or not

Created by : Sumit Agarwal, Client Servicing/Key Account Manager, ICICI Bank  | 12 27 2008 17:18:54 +0000
Industry : BankingFunctional Area : India(Markets)
Activity:  207 views;  last activity : 07 06 2010 20:18:09 +0000
Is change in pension system needed or not?
  
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Pension system is a necessity,and should be considered as Basic necessity.

It takes care of min needs at a stage where vulnerability is most.Its a stage wherein you are at a disadvantage in terms of opprtunity,age,physical and mental abilty and health in general

A constant income like this will certainly give a psycological boost to the person even if it does not take care of all needs .it augments the savings to be self reliant at that stage to a certain extent.
By Charles davison, Project Manager, Douglas OHI LLC  | 09 01 2009 07:50:49 +0000
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Ok I do agree that there has been an increase but this increase is not proportionate. Like for people who were involved in the education sector theirincrement was more as compared to those involved in administrative services.
By Anal Sarkar, Client Servicing/Key Account Manager, Citibank  | 12 27 2008 17:32:19 +0000
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I think it is very important for the pension system to change, 25% of India's population belongs to the category of pensioners so once their condition is maintained some problems are solved.
By Sumit Agarwal, Client Servicing/Key Account Manager, ICICI Bank  | 12 27 2008 17:18:54 +0000
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There has been an increase in the past. I think in the last appraisal there has been an increase of 20%.
By Dharmesh Panchal, Client Servicing/Key Account Manager, Royal Bank of Scotland  | 12 27 2008 17:28:24 +0000
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