₹1 Lakh Crore Needed for Pension in Eight Years

India is expected to require a substantial corpus of ₹1 lakh crore to meet pension obligations over the next eight years. This projection comes as the government prepares to implement the Unified Pension Scheme (UPS) from April 1, 2025, which guarantees a monthly pension for central government employees. The UPS aims to provide a stable income stream, ensuring 50% of the average basic pay as a pension for eligible employees. Meanwhile, private sector pension funds like HDFC Pension have seen significant growth, crossing ₹1 lakh crore in assets under management. This trend highlights the increasing importance of robust pension planning in both public and private sectors.

 

Source: Economic Times, Business Standard, NDTV Profit