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Question
Select the correct statement/statements regarding the pension reforms in India. using the code given below:
1. Pension reforms in India have evolved primarily in response to the need of reform in the Government pension system.
2. These have been designed to make a shift from 'defined-benefit to 'defined-contribution' by putting a cap on the Government's liability.
Select the correct statement/statements regarding the pension reforms in India. using the code given below:
1. Pension reforms in India have evolved primarily in response to the need of reform in the Government pension system.
2. These have been designed to make a shift from 'defined-benefit to 'defined-contribution' by putting a cap on the Government's liability.
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Solution
The correct option is C 1 and 2
Pension reforms in India are introduced to cope with the absence of a social security system, ageing population and changes due to breakdown of the traditional family support system. Hence, they have evolved primarily in response to the need for reform in the Government pension system. Moreover, these have been designed to make a shift from 'defined-benefit' to 'defined-contribution' by putting a cap on the Government's liability.Thus, the correct answer is C.
Pension reforms in India are introduced to cope with the absence of a social security system, ageing population and changes due to breakdown of the traditional family support system. Hence, they have evolved primarily in response to the need for reform in the Government pension system. Moreover, these have been designed to make a shift from 'defined-benefit' to 'defined-contribution' by putting a cap on the Government's liability.
Thus, the correct answer is C.
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