Journey Simplification and Business Resilience
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
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
India
Hong Kong
India
South Africa
Japan
USA
Hong Kong South Africa ■Japan USA Australia
Australia
Elderly population is expected to almost triple by 2050
7%
Ageing population
9%
14%
67%
68%
68%
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
26%
23%
19%
2020
2030
2050
Age <15 Yrs
Age 15-65 Yrs
Age >65 Yrs
HDFC
49
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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