Along with this, the Economic Advisory Committee of the PM has said that along with increasing the retirement age in the country, Universal Pension System should also be started.

Senior Citizen Safety

According to the report, under this suggestion, a minimum pension of Rs 2000 should be given to the employees every month. Let us tell you that the Economic Advisory Committee has recommended better arrangements for the safety of senior citizens in the country.

Skill development is also important

According to this report, there is a dire need to raise the retirement age if the working age population is to increase. This can be done to reduce the pressure on the social security system. The report also talks about skill development for persons above 50 years of age.

Governments should make policy

It has been said in the report that the central and state governments should formulate such policies so that skill development can be done. This effort should also include those living in the unorganized sector, remote areas, refugees, migrants who do not have the means to get training, but they must be trained.

World Population Prospectus 2019 Report

It is worth noting that according to the World Population Prospectus 2019, there will be around 32 crore senior citizens in India by the year 2050. That is, about 19.5 percent of the country’s population will go into the category of retired. In the year 2019, about 10 percent of India’s population or 140 million people are in the category of senior citizens.

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