Copyright © 2026 Authors retain the copyright of this article. This article is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

@article{207545,
        author = {Dr. Sowmya. S},
        title = {An overview of India’s Pension System for achieving inclusiveness and Sustainability and Review of Pension System from Global Perspective},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {13},
        number = {3},
        pages = {1430-1441},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=207545},
        abstract = {The world is presently facing the pension crisis or ‘pension bomb’ in developed countries. The increasing Global aged population , increase in life expectancy, unemployment, poverty at retired life, inflation, differential income groups, absence of traditional family support and non-contributory pension schemes, increased cost of living, increased expenditure, low income, lack of financial literacy and digital  literacy are some of the major factors causing pension crisis and causing growing concern for pension sustainability. In this background the present study aims in examining the pension system in India, and to review the pension system globally. The global pension system is reviewed among the top 10 GDP countries with retirement age, structure, category, regulatory body, regulating act and enforcement department.  The findings by content analysis technique considering the secondary research method revealed the minimum average retirement age is 62.5 years for Men and 61.7 years for women, and the maximum average retirement age is 64.4 years for Men and 63.7 years for women. The findings revealed in case of scenario 1, the Indian’s Retirement age for men significantly differ with Global Retirement Age, whereas for women does not significantly differ with Global Retirement Age. In case of scenario 2, the Indian’s Retirement age for both men and women significantly differ with Global Retirement Age. This proactive study suggests the model for India’s pension system to achieve inclusiveness and sustainability. The model for pension system considers Coverage Expansion, Contribution Mechanisms, Benefit Structures, Outreach and Education and Digitalization and Simplification as the means to achieve inclusiveness. Financial Sustainability, Demographic Sustainability, Economic Sustainability, Governance and oversight, Communication and transparency will help to achieve sustainability of pension system. The effective pension system considering the core principles of adequacy, sustainability, equity, efficiency, transparency, accountability, flexibility and choice, protection and security will automatically makes any country’s pension system more inclusive and sustainable model.},
        keywords = {India’s pension System, inclusiveness, sustainability, review, global perspective.},
        month = {August},
        }