Issues in Old Age Social and Income Security in India

Rajagopalan, R (2003) Issues in Old Age Social and Income Security in India. TAPMI, Manipal.


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Though an age-old problem, old age social and income security (OASIS) issues were brought to focus in the 1990s, with the publication of a World Bank study. The developed, developing and the erstwhile socialist countries all face serious dilemmas in managing their OASIS. India is no exception. This paper reviews this literature from an Indian perspective. The objectives are to: . Highlight the important concerns of specific interest to India Discuss the available estimates to quantify such concerns Discuss suggested policy alternatives Identify potential topics of research interest to the author. . . . This paper represents only the beginning of a hopefully fulfilling personal research agenda of the author. It is a first attempt at reviewing the existing literature. The paper does not represent any original contributions. After introducing the topic in Section 1, the paper points out the reasons for the increasing importance of OASIS in Section 2. These include demographic changes, breakdown of traditional support systems, poor coverage under formal systems and their poor performance and prospects. Section 3 describes two proposals for systemic reform under current debate: one by the Committee on OASIS set up by GOI and an unpublished draft WorId Bank document. Section 4 outlines a research agenda of interest to the author. These include strategic bequests, impact of co-living with one's own children, need for suitable market instruments like inflation-indexed bonds and reverse mortgages for house property, viewing the elderly as potential assets rather than merely as a liability and the market potential for pension products in India. By this paper the author seeks to network with other interested individuals and institutions working in this area.

Item Type: TAPMI Working Papers
Uncontrolled Keywords: Income Security: Social Security;
Subjects: Finance
Divisions: General Management and Enterpreneurship
Depositing User: Ms. Vanitha K
Date Deposited: 17 Nov 2018 05:58
Last Modified: 21 Nov 2018 09:02

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