It’s been a momentous weekend for Indian pensions. Prime Minister Modhi has announced that his 2.3 million civil servants plus a further 6.7m local Government officers will be offered a contributory final salary pension. The move may have been to head off a return to old “funded” non-contributory DB, but it is nonetheless the most radical adoption of pensions we have seen this century.
Arun Muralidhar, an Indian of origin, though now based in the USA, will be speaking to us today at around 4 am his time and 10.30 am ours.
His presentation will be on SeLFIES which he sees as the means to convert a system of pots into one of pensions, using the National Savings system as his means of distribution.
This is proving its worth in Brazil , where the public have adopted his approach to purchase strips of long duration income that last long enough (though not necessarily as long as they do).
But will this system work in the UK where we have a highly developed pension industry, albeit not yet providing pensions from “workplace pensions”?
You can
- Read Arun’s latest paper addressing this question on this blog this morning
- Attend this morning’s coffee morning.
You can join Arun for free by saving or using this link
- Check out Arun’s slides for today here
I hope you’ll do all three.