A COMPREHENSIVE STUDY OF OLDAGE PENSION IN INDIA

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Abstract

Old-age pension is an important component of India’s social security system, aimed at providing financial support and improving the living conditions of elderly persons, particularly those belonging to economically vulnerable households. With increasing life expectancy, changing family structures, rising healthcare costs and growing economic dependence among older persons, the need for adequate old-age income security has become increasingly significant. In India, old-age pension support is provided through a combination of central and state government programmes, with the Indira Gandhi National Old Age Pension Scheme (IGNOAPS) under the National Social Assistance Programme (NSAP) being a major component. The status of old-age pension in India reflects both significant progress and continuing challenges. Government pension programmes have expanded the coverage of elderly persons from poor and disadvantaged households and have contributed to reducing financial insecurity. Pension payments can help beneficiaries meet basic household expenses, purchase medicines, access healthcare and maintain a minimum degree of economic independence. State governments have also introduced their own pension schemes and, in several cases, provide additional financial assistance over and above central support. The expansion of digital payment systems and direct benefit transfers has further improved the delivery of pension benefits in many areas. However, several problems continue to affect the effectiveness of old-age pension programmes. Identification and eligibility procedures can also exclude deserving persons who lack required documents or face difficulties in accessing government offices and digital services. Delays in pension payments, difficulties in biometric authentication, bank-related problems and inadequate awareness about eligibility and application procedures are additional concerns, Overall, old-age pension schemes have become an important instrument of social protection in India. Their effectiveness depends on adequate pension levels, wider and inclusive coverage, timely payment, transparent administration and easy accessibility. Strengthening awareness, simplifying application procedures, improving grievance-redressal mechanisms and periodically revising pension amounts in line with living costs can improve the welfare impact of old-age pensions.

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