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State of Retirement Benefits in India

Highlights of the key findings

June 10, 2022

Regulatory changes and labour reforms are likely to keep employers highly engaged in managing employee benefits. Containing cost, managing risk, and ensuring sustainability and compliance will be top priorities for employers.

WTW recently conducted the annual State of Retirement Benefits in India Survey to understand the issues that influence employers’ retirement strategy, how they manage these benefits, and how the market is reacting to various regulatory changes, as employers try to balance financial viability with the retirement needs of employees.

About the survey

The State of Retirement Benefits in India Survey was run between December 2021 and February 2022 and covers responses from 74 employers from India.

Respondent profile

Break-up of organisations by number of employees

Break-up of organisations by fund size

Break-up of organisations by industry

Break-up of organisations by annual revenue

Key findings of the survey

  • Retirement benefits strategy

    Employee experience/ complaints, regulatory complexity and harmonisation of benefits across business units were rated as the top 3 issues impacting an organisation’s retirement benefits strategy

Download the executive summary

PRESS RELEASE

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  • Employees’ Provident Fund (EPF)

    Half the respondents who sponsor an exempt PF Trust acknowledged that managing their own PF trust is not a sustainable option in the long-term

  • National Pension System (NPS)

    NPS prevalence has increased with 60% respondents now offering the Corporate model to their employees and another 24% are planning or considering its provision; however, participation rates continue to be low

  • Labour codes

    Over 70% respondents have taken action to assess the potential impact of the Labour Codes, with a majority expecting a significant impact on P/L

Please complete the form to receive the executive summary. For more information, write to us.