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2 clusters · 6 sources · 4 days · First seen 10 days ago · Last updated 6 days ago

India pension coverage expansion initiatives

Overview

India is implementing multi-pronged strategies to expand pension coverage, particularly for unorganised and rural workers. The Pension Fund Regulatory and Development Authority (PFRDA) is developing digital solutions to simplify registration and contributions through mobile platforms and the Unified Payments Interface (UPI). This digital approach aims to allow workers to open accounts via a “few-click process” and will utilize the e-Shram database to streamline onboarding.

Complementing these digital efforts, the Department of Rural Development and the PFRDA have entered a memorandum of understanding to strengthen social security in rural areas. This initiative utilizes a cadre known as ‘Pension Sakhis’—trained community resource persons and Banking Correspondents—to raise awareness and facilitate enrollment among Self Help Group members and underserved rural populations.

Entities

Pension Fund Regulatory and Development Authority · Rohit Kansal · Mamta Shankar · India · Sivasubramanian Ramann

Timeline

6 days ago

[BUSINESS] 4 sources
India expands rural pension coverage via ‘Pension Sakhis’
India's Department of Rural Development and PFRDA have partnered to expand rural pension coverage using ‘Pension Sakhis’ to improve financial inclusion and social security for underserved groups.
10 days ago

[BUSINESS] 2 sources
PFRDA to expand India's pension network via mobile and UPI
India's PFRDA is launching mobile-based pension services and UPI-enabled contributions to bring informal sector workers into the National Pension System using the e-Shram database.

Sources

bhaskarlive.in · businessnewsthisweek.com · india.com · news18.com · socialnews.xyz · tripurastarnews.com