IIM Lucknow, PFRDA organises Symposium on Atmanirbhar Pensioned Society for Viksit Bharat

The event aimed to address critical issues and opportunities within India's pension sector, fostering discussions crucial for paving the way towards a self-reliant, pensioned society in a developed India.

Indian Institute of Management (IIM) Lucknow, in collaboration with the Pension Fund Regulatory & Development Authority (PFRDA), organized a significant symposium titled ‘Atmanirbhar Pensioned Society for a Viksit Bharat.’ The event aimed to address critical issues and opportunities within India's pension sector, fostering discussions crucial for paving the way towards a self-reliant, pensioned society in a developed India.

Objectives of the Symposium

The symposium aimed to achieve several key objectives:

- Engage stakeholders and experts in deliberating on critical challenges within the pension sector.

- Develop policy suggestions and action plans to enhance pension coverage and adequacy.

- Promote financial literacy and sustainable pension fund investments.

Panel Discussions

The symposium featured three insightful panel discussions:

1. Fully Pensioned Society: Product, Coverage & Adequacy

   - Chaired by M P Tangirala, Additional Secretary, DFS, MoF, Government of India.

   - Panelists included Prof. Vikas Srivastava (IIM Lucknow), Professor Mukul G Asher (Former Professor, Lee Kaun Yew School of Public Policy, NUS, Singapore), Mamta Shankar (PFRDA), Pankaj Sharma (Joint Secretary, DFS, MoF), and Sh. Dinesh Pant (ED Actuarial, LIC of India).

2. Pension Fund Investments & Economic Development: Focus on Infrastructure & ESG

   - Chaired by Professor V Ravi Anshuman (IIM Bangalore).

   - Panelists included Professor Ashish Pandey (IIM Lucknow), Nilesh Shah (Kotak Mahindra AMC Limited), Professor Ram Singh (Delhi School of Economics), and Dhirendra Kumar (Value Research).

3. Financial Literacy & Retirement Planning

   - Chaired by Surender Rana, DMD (ASF), SBI.

   - Panelists included Professor Ajay K Garg (IIM Lucknow), Dilip Asbe (MD & CEO, NPCI), M Karthikeyan (ED, Bank of India), and Ashok K Soni (ED, PFRDA).

Outcome and Initiatives

The symposium concluded with the release of the Compendium of PFRDA Act, Rules & Regulations 2024 and the Handbook of NPS Statistics 2024. It also formulated policy recommendations and strategic plans aimed at achieving a self-reliant, pensioned society. These initiatives are crucial steps towards addressing challenges and leveraging opportunities within the pension sector to secure a prosperous future for all citizens.

The collaboration between IIM Lucknow and PFRDA through this symposium marks a significant milestone in advancing discussions on pension sector reforms in India. By focusing on innovation, policy enhancements, and financial literacy, the symposium aims to contribute towards building a resilient and inclusive pension ecosystem aligned with the vision of 'Atmanirbhar Pensioned Society for a Viksit Bharat.'

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