RETAIL MARKET: The Sleeping Giant: Private Pension Markets in India

In this Report we present evidence from the Invest India Dataworks Income and Saving Survey (IISS 2007) that sizes and segments latent demand for pensions as a guide for government and commercial interests alike in considering pension business opportunities in the country. What this reveals is that at the present time there are over eight crore workers who see the need for, and value of, a voluntary contributory retirement savings system.
If latent demand for pensions from these groups were fully harnessed, Indian workers would contribute an estimated Rupees 57,000 crore to the NPS in the first full year of operations. Up to 20 percent of these workers (1.6 crore workers) we believe are prime prospects and likely to start saving for their retirement as soon as appropriate products are offered to them.

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