World’s second largest reinsurer Swiss Re has indicated that for creating a long-term retirement provision, both private and public bodies have to work together to address the broader issue of a sustainable pension infrastructure.
India is making efforts to set up a detailed social security plan by permitting new players in the pension and insurance field. Increase in life expectancy in India in recent times has caused difficulties in funding for insurers.
Swiss Re report said that advanced models furnish improved figures of future longevity and will bring in vital changes in the overall result, which ought to be driven by private and public bodies working in concert. Insurers and employers ought to work unitedly to attain a lasting sustainable infrastructure.
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