A sustainable and scalable approach in Indian pension reform

India is making sound progress on poverty elimination for those who can work. Poverty amongst the elderly will then become the dominant form of poverty in India, since the elderly do not work and thus do not benefit from higher wages. Simple dole solutions will not work. The only solution is a sustainable, scalable pension system. India is at a remarkable point in its demographic transition. In the period from 2005 to 2030, a substantial decline in the dependency ratio is expected, with a large number of people coming into their working years. This constitutes a historic opportunity to create a pension system in time for these cohorts, who can be empowered to enjoy decades of life in their elderly years using personal control of pension assets.