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5 Dec, 2013

Figures reveal financial insecurity for India’s elderly – The Hindu

Activists of Pension Parishad, continue to campaign for universal pension system and are pressing for a minimum monthly pension not less than 50 percent of minimum wage or Rs.2,000 per month, whichever is higher.

Retirement remains a luxury few among the poor in India can afford. The latest Census reveals that India is home to 14.29 crore elderly (aged above 54 years) population, varying considerably with around 70 per cent of the elderly residing in rural areas.

Additionally, 32 per cent of elderly males and 72 percent of elderly females are entirely dependent on others economically for sustenance.

Read the rest: Nationwide figures reveal financial insecurity for the elderly – The Hindu.