Thursday, February 19, 2015

Tweet

[IWS] ADB: SUPPORTING PENSION REFORMS IN INDIA: SOCIAL PROTECTION BRIEF [11 February 2015]

IWS Documented News Service

_______________________________

Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

________________________________________________________________________

This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

Asian Development Bank (ADB)

 

SOCIAL PROTECTION BRIEF: SUPPORTING PENSION REFORMS IN INDIA [11 February 2015]

http://www.adb.org/publications/social-protection-brief-supporting-pension-reforms-india

or

http://www.adb.org/sites/default/files/publication/154074/india-pension-reforms.pdf

[full-text, 2 pages]

 

Two ADB technical assistance projects helped improve the sustainability of pension schemes in selected states in India, and extend social protection to workers not covered by the defined benefit pension system.

 

In 2004, the government took the first steps toward establishing a self-sustaining and broad-based pension system for India. This new system is a defined-contribution, individual accounts-based pension program mandatory for civil servants.

 

Key points

·         Pension reform was driven by the need to establish a self-sustaining broad-based pension system to mitigate the Government of India’s unfunded pension liabilities under the defined benefit system.

·         The technical assistance (TA) projects of the Asian Development Bank (ADB) supported selected states in the measurement and reform of civil service pensions. The projects were implemented through stakeholder consultations to raise awareness and encourage mass workers’ voluntary participation in the new pension system, capacity building, and field testing new products.

·         The new National Pension System (NPS) also extended social protection coverage to all Indian citizens, including informal sector workers who were previously not covered.

 

________________________________________________________________________

This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 

 

 

 

 

 

 

 

 




Links to this post:

Create a Link



<< Home

This page is powered by Blogger. Isn't yours?