According to National Social Assistance Programme (NSAP), a welfare programme administered by the Ministry of Rural Development, 80 million elderly people in India are entitled to a pension of Rs 200 per month This meagre amount reaches only about 22.3 million people, Pension Parishad Coordinator, Nikhil Dey said. 

Financial Services Secretary Rajeev Kumar said the index would be a measure of access to and usage of basic formal financial products and services including savings, remittances, credit, insurance and pension products.

These superannuation funds valued at 2.6 trillion Australian dollars are one of the world’s largest in terms of volume.
“The funds have exposure including in various international markets. However, their exposure to Indian markets is still very limited, despite continued greater than average market returns in India,” the ministry said.

PFRDA chairman, Hemant Contractor on Tuesday said,  “Soon, we will put the issue before our board and after its approval , we will issue a directive in this regard,” 

“For many, retirement is thankfully no longer a short period tacked on to the end of our life. It can be a long and very fulfilling part of a person’s life. But with that, our needs at 65 can be very different from our needs at 75 or 85, with very different financial implications,” HSBC India head of retail banking and wealth management Ramakrishnan S said 

According to a statement here on Monday, Hazare also sought implementation of the Swaminathan Commission recommendations to alleviate the plight of farmers, who have been facing serious economic crisis for the last few years 

Earlier, the Bombay high court had ruled that the elderly parents can take back a share in their property given to a son as a gift if he fails to look after them or harasses them,.

“Currently, we have five slabs of pension from Rs 1,000-5000 per month. There have been a lot of feedback from the market asking for higher pension amounts because many people feel that Rs 5,000 at the age of 60 years, 20-30 years from now, will not be sufficient.We have placed this proposal with the government that it should be increased to up to Rs 10,000,” Contractor said.

There are about 48.41 lakh central government employees and 61.17 lakh pensioners