Multi-Pronged Risk Management and Protection Philosophy
Macro opportunity - Retiral solutions
4.8
India's pension market is under-penetrated at
4.8% of GDP
Pension Assets / GDP Ratio
60.8
56.4
43.2
130.7
120.5
India
Hong Kong
South Africa
Japan
USA
Australia
India
Hong Kong South Africa
■Japan USA Australia
Elderly population is expected to almost triple by 2050
Ageing population
7%
9%
14%
67%
68%
68%
26%
23%
19%
2020
2030
2050
Age <15 Yrs
Age 15-65 Yrs
Age >65 Yrs
Improvements in life expectancy will lead to an average post
retirement period of 20 years
Life expectancy at age 60
22
19
18
18
17
16
22
20
1995-2000
2000-05
2011-12
2030E
■Males Females
Average household size has decreased from 4.6 in 2001 to 3.9 in 2018
Total Pension AUM is expected to grow to Rs 118 Tn by 2030 (about
1/4th accounted by NPS)
Mandatory schemes to increase coverage for both unorganized and
organized sectors
HDFC
43
Source: Milliman Asia Retirement Report 2017; Survey by NSSO, Ministry of statistics and Programme implementation Crisil PFRDA, Census of India, UN Population Estimates
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