Pension Fund Market in India 2011
The pension fund market in India was valued at INR 13.72 tr in 2010 and is estimated to grow at 7% CAGR. Low existing coverage and massive workforce in the unorganized sector provides a huge untapped market for the pension market. Strong opportunity for the private players also exists as the government provides ample support to them. The government also aims to take significant measures to implement the new pension scheme and increase pension coverage. Support to foreign players and changing demographics in the country will drive the market.
The report begins with an introduction including the history of India’s social security laws, types of pension systems and the various pension schemes in India. This section introduces one to the pension structure that has been followed in India historically. The various pillars of pension schemes and their characteristic features have also been provided including nature, eligibility, applicability, funding, benefit, premature withdrawal option and taxation.
This is followed by the market overview section which gives an insight into the overall pension fund market, its size and growth. It delves further into the growth of pension premium, pension coverage and government pension expenditure. Growth of pension premium was much more compared to that of the total life insurance premium in 2007-08. Percentage of pension in total number of policies, including insurance policies, has also risen to 20% in 2008. Pensions comprise of one of the largest components of government expenditures and are set to increase further. The government has taken to encourage and support private pension funds to ease the financial burden.
An analysis of the drivers explain the factors for growth of the industry including low existing coverage, changing demographic pattern, higher savings rate, support to private and foreign players and increasing investment potential. Strong opportunity exists in the market as existing penetration and coverage of pension funds is low. This coupled with the fact that life expectancy amongst individuals is rising and the trend towards higher savings will lead to a developing market. The key challenges of the market include structural flaws in pension systems including low returns, market domination and implementation hurdles. Additionally, pension systems in the market have a rigid structure, not providing the necessary flexibility to consumers. Burden on government finances has created a major fiscal drag.
This is followed by a section on government participation which covers various regulations, initiatives and schemes forwarded by them including Employees’ Provident Fund Organisation, Project OASIS, High Level Expert Group (HLEG), Pension Fund Regulatory and Development Authority (PFRDA), New Pension Scheme (NPS) and Expected Developments. New Pension Scheme also incorporates information regarding the framework, key constituents, basic cost structure, performance with statistics, recent initiatives and future outlook.
The competition section provides an overview of the competitive landscape in the industry and includes a detailed profile of the major players in the market. The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the pension fund market in India.Market Report
For more information kindly visit :
Pension Fund Market in India 2011
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
Fax: + 91 22 27812290
Follow us on twitter: http://twitter.com/#!/Sandhya3B
Bharatbook - About Author:
Bharat Book Bureau, the leading market research information aggregator provides market research reports, company profiles, country reports, newsletters, and online databases for the past twenty four years to corporate, consulting firms, academic institutions, government departments, agencies etc., globally, including India. Our market research reports help global companies to know different market before starting up business / expanding in different countries across the world.
Published by Sean Burke on May 4th 2012 | Business
Published by Liza on January 15th 2012 | Business
Published by William Jackson on July 30th 2012 | Business
Published by Tariq And Sons on December 23rd 2011 | Business
Published by Tom Hag on January 5th 2012 | Business
Published by Elvy James on January 21st 2012 | Business
Published by John Davis on January 4th 2012 | Business
Published by Mayank Gandhi on March 28th 2012 | Business
Published by Ankita Gupta on December 19th 2011 | Business
Published by Cecile Tyler on March 1st 2012 | Business
Published by Bettina Azaria on July 18th 2012 | Business
Published by Amd on December 23rd 2011 | Business
Published by Mary Porter on June 26th 2012 | Business
Published by Alcott Bailey on June 11th 2012 | Business
Published by Jane Cyrus on March 26th 2012 | Business
Published by Frank Joseph on July 6th 2012 | Business
Published by Maaya on February 27th 2012 | Business
Published by on July 18th 2012 | Business
Published by David Hudson on July 18th 2012 | Business
Published by Bharatbook on June 6th 2012 | Business