Investor Presentaiton
38
Macro opportunity: Retiral solutions
India's pension market is under-penetrated at
3% of GDP
2
India's retirement savings gap to grow annually by 10% to reach
~$96Tn in 2050
146.2
128.2
2050 retirement savings gap ($ Tn.)
98.3
90.1
54.0
31.3
3.0
India
Japan
Hong Kong Canada
USA
95.7
32.4
24.3
16.4
9.6
Australia
China
India
UK
Japan
Canada
Australia
Elderly population is expected to increase 2.5x by 2050
Ageing population
95
161
248
7%
10%
15%
58%
61%
59%
35%
2021
29%
2035
26%
Improvements in life expectancy will lead to an average post-retirement
period of 20 years
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
2050
Age <20 Yrs
Age 20-64 Yrs
Age >65 Yrs
Number of people aged >60 years (In mn)
Source: Swiss Re: A Retirement lifeline (2023), OECD (2021), Milliman Asia Retirement Report 2017, Survey by NSSO, MOSPI, United Nations World Populations Prospects Report (2022)
1. Comprising pension assets/funds
2. Retirement savings gap = Desired retirement income (i.e. 70% of pre-retirement annual income) - Actual income (i.e. social security benefits + employer benefits + personal savings)
HDFC
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