While formulating the new pension scheme we have not learnt from the experience of the others. In the US, the number of workers per retiree was 5.1 in 1960 and this declined to 3.0 in 2009 and is projected to decline to 2.1 by 2030. The problem is compounded by the fact that because of better healthcare and other contributing causes, retirees are living longer thus increasing their number. Indias much-touted Swavalamban Yojana of India for the unorganised sector is now a non-starter. The scheme, targeted to benefit anganwadi workers, construction workers, occupational classes like weaver, fishermen, farmers and dairy workers, has failed to take off due to lack of awareness.
Abolish gubernatorial posts
The Lok Sabha has passed a bill to provide secretarial staff and other benefits to former governors even as MPs have called for abolishing the position with some governors allegedly putting up hurdles for governments of opposition-ruled states. In this context, the Governors (Emoluments, Allowances and Privileges) Amendment Bill 2012 seems to be sending the wrong signal. Abolishing the redundant post of governor will save the taxpayers' money.