पेंशन जरूरी क्यों ,

Описание: A pension is a regular income received after retirement, designed to support individuals when they stop earning actively. It ensures financial stability in old age and helps maintain dignity and independence after retirement.

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Why is Pension Required?
1. No regular income after retirement – Salaries stop, but expenses don’t.
2. Rising life expectancy – People live longer, so savings must last longer.
3. Medical expenses increase with age – Healthcare costs rise significantly.
4. Inflation erodes savings – Money loses value over time.
5. Financial independence – Avoid dependence on children or others.

A pension acts as a monthly salary replacement in old age.

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Old Pension Scheme (OPS) vs New Pension Scheme (NPS)

Old Pension Scheme (OPS)
• Applicable to government employees appointed before 1 January 2004
• Pension = 50% of last drawn salary
• Fully funded by the government
• No contribution from employees
• Guaranteed lifelong pension

Problem:
OPS puts a huge financial burden on the government due to increasing retirees and longer life expectancy.

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New Pension Scheme (NPS)
• Applicable to government employees after 1 January 2004
• Also open to private sector and self-employed individuals
• Employee and employer both contribute
• Pension depends on market-linked returns
• Portable and transparent
• Encourages personal responsibility for retirement

Advantage:
Financially sustainable and reduces long-term pressure on government finances.

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When Should One Start Investing for Pension?
• Best time: As early as possible (20s or early 30s)
• Early investing benefits from power of compounding
• Small monthly investments can create a large retirement corpus
• Delaying pension planning increases financial stress later

Golden rule:
👉 The earlier you start, the less you need to invest.

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Why Can’t the Government Provide Pension to Everyone?
1. Huge population – India has over 140 crore people
2. Limited tax base – Only a small percentage pays income tax
3. Rising life expectancy – Pension payments last longer
4. Competing priorities – Health, education, infrastructure, defense
5. Fiscal sustainability – Unlimited pensions can lead to financial crisis

Therefore, the government promotes self-funded pension systems like NPS.


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