Sum Up & Vocab Challenge 6
Here is a clear and accurate summary of the article titled “India needs to design an inclusive pension system” from The Hindu, including all major sub-topics and the difficult vocabulary used — with meanings at the end. 🧾 Summary India's current pension system is inadequate, especially for the vast informal labour force, which forms over 90% of the total workforce. A robust and inclusive pension system is essential not only for old-age income but also for supporting healthcare and social security needs in old age. However, fragmentation, lack of coverage, and administrative weaknesses plague the system today. 🏗️ 1. Why Pension Reform Is Urgent The article cites reports showing that India's old-age dependency ratio (the proportion of elderly to working-age people) is rising. By FY21-22, only 3.6% of the population was enrolled in the National Pension System (NPS). The authors argue this indicates a systemic failure in designing a comprehensive, sustainable, and scalable pensi...