Snehal Chopade

Financial Considerations Underlying Pensioners Snehal Chopade

This study of financial considerations underlying pensioners in Khamgaon region in (Maharashtra) India. It starts by explaining what is pension along with its characteristics. It throws light on the current retirement benefit scenario in India, leading to the deficiencies in this sector, the recent reforms as well as the financial considerations of pensioners. As science and medicine become more advanced, all over the world the population of old people is growing rapidly. Supporting oneself at that age requires considerable savings that have been got through good intelligent investment practices through the early years. In India the joint family concept with the Patriarch as the pivot, traditionally provided Old Age Security. This was adequate in an agrarian & rural society but as time passed by industrialization and urbanization undermined the traditional concept. Today, in India, old age seems to be most unanticipated and unfortunately the groundwork for meeting the financial demand that old age entails is quite inadequate