Time to Mainstream Micro-Pensions in India

The paper has argued that to expand coverage of micro-pensions, social entrepreneurship (along with social responsibility) will be needed by the financial sector, including the MFIs, insurance companies and mutual funds. Such entrepreneurship should aim to drastically reduce overall transaction costs, including fund management costs. The micro-pensions sector requires a regulator. While the PFRDA as an overall pension regulator is an appropriate agency for regulating micro-pensions, But it must closely co-ordinate with EEBI, IRDA, RBI, and NABARD.