The majority of companies in India tend to ignore the topic of retirement. The general consensus seems to be that it is not an employer’s responsibility to help an employee prepare for retirement, but rather, it is the individual's ‘self-obligation.’ However, financial wellness of an employee is a serious issue that affects employee morale and productivity. Offering retirement benefits as an employee benefit can help companies improve recruitment, potentially stem the steady flow of employee turnover, and provide a reward of financial security for long-term employees when their employment comes to an end.
This is Part Two of a three-part series on India's National Pension Scheme. Our intention is to provide useful information for employers who would like to operationalize NPS in their organization.