Micropensions - The Scope and Progress to Date

30-Aug-2012    This paper by MicroSave analyses three micropension models in India and assesses the potential for an adequate micropension business case.

Efforts of including poor people and informal sector workers into financial service provision started almost four decades ago, with the start of microcredit. These efforts are now being advanced by offering new products, such as microsavings and microinsurance. However, micropensions, though important, have lagged behind.

India has 7861 microcredit institutions and over 1252 microinsurance schemes that cater to needs of the low-income segment. But, while 88%3 of the India’s formal sector workforce has pension arrangements, there are not sufficient pension products for the low income, unorganised sector. This paper by MicroSave assesses if there is an adequate business case for micropensions in India. It also identifies the uniqueness in the existing micropension models in India.

 

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Micropensions - The Scope and Progress to Date

Paper by MicroSave on micropensions in India
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