India is projected to become an ageing society by 2047 with an estimated 140 million people above the age of 60 years. This is expected to put immense pressure on the pension funds in the country.
The Employees' Provident Fund Organisation (EPFO) sees a case for substantially in increasing the retirement age in India and aligning it with life expectancy to ensure the viability of the pension system in the country and provide adequate retirement benefits.
