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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | PENSION PLANS AS FINANCIAL SECURITY |
| Authors Name: | Prof . S. M . Khot |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_185223
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| Published Paper Id: | IJRTI2302045 |
| Published In: | Volume 8 Issue 2, February-2023 |
| DOI: | |
| Abstract: | Ageing population is the major challenge worldwide. Falling birth rate and slowing down in mortality rate has raised the concern about financial protection of ageing population. According to World Bank data (2018) age dependency ratio for India is 50%. Age dependency ratio is the ratio between dependents (less than 15 years and more than 64 years) to working age population. And there is an increase trend in old age dependency ratio every year from 1961 to 2011 (MOSPI 2016). As per the latest survey (2011),this ratio is 14.2%. The old age dependency ratio is the ratio of old age non-working who are dependent to working age group. The increase in dependency ratio indicates there is an increase trend of senior citizen population in near future. In 2050 India population aged over 60 would be 300 million (CRISIL report 2015). The NSSO survey also revealed that 90 percent of economically independent person having one or more dependent in family. Factors like dependency ratio, number of dependents trigger for a concrete retirement plan for individual during working age. Financial security provides a universal safety against financial shocks. A person can work and earn for certain period. After that he will retire but his day to day expenses will continue. During work-life one give priority to different commitment such as children education marriage, building house etc. Planning for retirement goes to the last place in the list of priority. Hence it is inevitable that every individual should think for a constant source of income after working life. Pension refers to a periodical payment to individual after retirement to till death. Pension is the life time income security for the retirees. In other word pension is a provision for protection during post retirement period. |
| Keywords: | Pension , Global perspective |
| Cite Article: | "PENSION PLANS AS FINANCIAL SECURITY", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.8, Issue 2, page no.272 - 275, February-2023, Available :http://www.ijrti.org/papers/IJRTI2302045.pdf |
| Downloads: | 000205103 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2302045
Registration ID:185223
Published In: Volume 8 Issue 2, February-2023
DOI (Digital Object Identifier):
Page No: 272 - 275 Country: Bagalkot, Karnataka, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2302045 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2302045 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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