• Sector:
  Governance
• Project name:
  Pension Reforms for the Unorganised Sector
• Country:
  India
• Project location:
  Delhi
• Name of client:
  Asian Development Bank

Description of project:
The project will lay foundation for developing a pension system for the unorganised sector that will provide old age security to the 398 million people that comprise the Indian informal sector workforce. The first priority would be to gain a better understanding of the needs and capacities of this sector. The project will conduct a nationwide wide survey to gather data to gain a better understanding of the needs and capacities of this sector, estimating the size, income distribution and preferences that may be necessary to develop relevant products and strategies. After an evaluation of the gathered data, specific strategies and pension schemes that address the needs of the unorganised sector will be developed including and appropriate regulatory and development framework. NSGIP will also facilitate the drafting of associated legislation and appropriate pension regulations for the unorganised sector as well as review the interface between the current regulator and other regulators in the financial markets.

Services provided:
Through our nominated consultant team and coordinate the work of all consultants, including management of data and information analysis, contact with counterparts, preparation and timely completion of reports, workshops, seminars, and consultative meetings. Apply international experience in assisting the PFMRD in the conduct of a functional review of Pension policy formulation, with due regard to the formal legal and regulatory system and to the conduct of a base-line survey to define the Unorganised Sector and its needs. Prepare and submit progress reports, in addition to specific tasks related reports, of acceptable quality to the ADB.