The First International Research Conference on Pension (IRCP) 2025 came to a close in New Delhi after two days of compelling discussions, research presentations, and global insights into the future of retirement and pension security. Organized by the Pension Fund Regulatory and Development Authority (PFRDA) in collaboration with the Indian Institute of Management Ahmedabad (IIMA), the event marked a significant step forward in India’s efforts to build a secure and inclusive pension ecosystem.
Held at Bharat Mandapam and inaugurated by Shri Pankaj Chaudhary, Minister of State for Finance, the conference brought together an impressive gathering of policymakers, global experts, scholars, and industry leaders. As India grapples with a rapidly aging population, the discussions highlighted the urgent need for comprehensive pension reforms to ensure a dignified life for senior citizens.
In his keynote address, Shri Chaudhary emphasized the profound demographic shift India faces. By 2050, one in five Indians will be over the age of 60, and by 2047, the elderly will outnumber children. Most of this elderly population will be women, making financial independence through inclusive pension schemes not just desirable, but essential. He urged the nation to make “Pension for All” a top priority, calling for immediate policy action to secure the future of India’s aging population.
Shri Nagaraju Maddirala, Secretary, Department of Financial Services, reflected on the country’s journey toward building a strong pension framework. He highlighted the newly launched Unified Pension System (UPS), which promises 50% of the average basic pay as assured pension, and stressed the importance of widening pension coverage. He noted that India’s pension assets stand at just 17% of the GDP—far below the OECD average of 80%—underlining the pressing need to bridge this gap in retirement preparedness.
Dr. Deepak Mohanty, Chairperson of PFRDA, spoke with optimism about the growth and impact of the National Pension System (NPS). With 8.4 crore subscribers and a corpus of ₹14.4 lakh crore, the NPS has become a crucial pillar of India’s social security framework. He reiterated PFRDA’s commitment to driving innovation, expanding coverage, and building a financially secure and inclusive society.
The conference’s first day featured thought-provoking panel discussions, beginning with “Pension for Future: Building Resilient Old Age Income Security,” which explored global strategies for improving pension inclusion, especially for informal sector and gig economy workers. International experts from South Africa, Nigeria, and global institutions shared their insights, setting the stage for deep reflection and cross-country learning.
The second session delved into “Global Lessons on New and Innovative Investment Practices in the Pension Industry.” Industry veterans and scholars discussed product design, investment strategies, and international case studies that could guide India’s evolving pension landscape.
The day ended with a vibrant session on regulatory coordination and product development, where senior officials from EPFO, SEBI, IRDAI, and DFS explored ways to streamline pension policies and make pension products more accessible to a wider population.
On April 4, the second day of the conference took on a more academic tone, featuring groundbreaking research presentations and two key panel discussions. The first addressed the need for improving financial literacy to ensure sustainable retirement planning. Educationists from premier institutions such as IIMs, SRCC, and MDI offered suggestions including integrating financial literacy into school curricula, tailoring messaging for different social groups, and even using influencer marketing to increase awareness.
The final panel focused on pension fund investment strategies, where experts discussed balancing long-term pension obligations with growth opportunities. Topics included optimizing asset allocation, stress-testing portfolios, and leveraging AI/ML in investment decisions—all critical to ensuring that pension funds remain resilient and responsive to changing market dynamics.
As the event drew to a close, the best research papers were honored, recognizing outstanding contributions to the field. Among the winners were Mr. Rajan Raju, Mr. Ravi Saraogi, Ms. Pankhuri Sinha, and Mr. Lokanandha Reddy Irala. The ceremony was a moment of pride and reflection, as speakers acknowledged the breadth of knowledge shared over the two days.
In her concluding remarks, Ms. Sumeet Kaur Kapoor, Executive Director at PFRDA, highlighted the conference’s success in fostering meaningful dialogue and collaboration. The Vote of Thanks by Mr. P Arumugarangarajan, Chief General Manager, PFRDA, was a warm expression of gratitude to all participants whose insights and commitment made the event truly memorable.
The IRCP 2025 stands as a testament to India’s resolve to reimagine retirement for its citizens, guided by compassion, innovation, and shared global wisdom.
