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flag Economic Survey 2024-25 warns of an impending pension crisis in India, urging reforms for broader coverage.

flag The Economic Survey 2024-25 warns of a potential pension crisis in India, similar to those in Greece and Italy, due to the current Pay-As-You-Go (PAYGO) schemes and low pension participation among low-income individuals. flag The report suggests expanding schemes like the National Pension System (NPS) and Atal Pension Yojana (APY) to cover more people. flag The Unified Pension Scheme (UPS) was introduced for central government employees, offering a guaranteed pension, but critics argue it may increase government costs. flag The survey emphasizes the need for a low-cost, scalable pension system to enhance social security coverage.

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