We all know the story on pension. The amount of pension coverage in India is tiny. The population is growing older because people live longer. Familial support structures are getting weaker. All of this has combined to create a pension timebomb. Some three decades from now, we'll have a much larger proportion of the population that is too old to work but has no money to support itself. Unless there are some big changes in the way this whole business of pensions work, we are looking at a disaster.There will be at least 30 crore old people by that time, some of them as old as 80 or 90 years old, and many of them will be destitute despite having earned as long as they could.
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