India’s pension reform board to meet to discuss reform of pension system
India’s Pension Reform Board has met to discuss reforms to its pension system, a top official said Wednesday.
The meeting was arranged by President Pranab Mukherjee after the country’s top pension official said on Tuesday that reforms needed to be made to the pension system to protect workers.
“The pension reform process has to be reviewed and it has to focus on the long-term interests of the society,” the official told Reuters in an interview.
The board will meet on March 22 and 23 to discuss the reforms that should be made in the near future, said Ramesh Chavan, the board’s secretary.
The reform process was initiated by the government last year to improve retirement security and to tackle the financial crisis, but the government has yet to complete any of its recommendations, which include setting a higher retirement age for workers.
The reforms will be discussed at a second meeting on March 24, the official said.