Buy custom Need Of Pension Schemes In India
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| Topic: |
Business
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| Number of pages / Number of words: |
15 / 4107 |
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Following are reasons why pension programs can have a substantial impact on economic and social development:
1. Use of scarce public funds: The Government of India currently spends almost 19% of its net tax revenues on pension programs[3], largely for civil servants who earn relatively large incomes and receive generous retirement benefits...
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While pension programs help to motivate and retain talented staff in the public sector, the high opportunity cost of this expenditure must be considered. scarce tax revenues can be used better to fund targeted poverty alleviation programs. A funded civil service pension program would reduce the government’s fiscal burden and free up tax revenues for other important initiatives...
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