The Evolution of Pension Reforms and Social Security for India's Informal Sector
India is facing a demographic shift with a rapidly aging population, necessitating robust pension reforms. The article traces the transition from welfare-based assistance to participatory inclusion frameworks. Key schemes include the Indira Gandhi National Old Age Pension Scheme (IGNOAPS), the Atal Pension Yojana (APY) for the informal sector, and the National Pension System (NPS). Despite these initiatives, a significant portion of the elderly remains unaware of their eligibility. The e-SHRAM portal serves as a critical database for informal workers, but challenges like digital literacy and administrative hurdles persist in ensuring universal social security.
Key Points
- India's elderly population is projected to reach 347 million by 2050.
- The Atal Pension Yojana (APY) provides a guaranteed minimum pension for informal sector workers aged 18-40.
- The e-SHRAM portal aims to integrate informal workers into the national social security framework.
- High levels of unawareness persist, with 85.3% of seniors unaware of the Senior Citizens Act.
Exam Facts
- APY targets workers aged 18-40.
- 347 million projected elderly in India by 2050.
- e-SHRAM portal acts as a national database for unorganized workers.
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