alexa Factors Influencing the Participation in Defined Contri
ISSN: 2375-4389

Journal of Global Economics
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Research Article

Factors Influencing the Participation in Defined Contribution Pension Scheme by the Urban Unorganized Sector in India

Amlan G* and Shrutikeerti K

Department of Management Studies, National Institute of Technology, India

*Corresponding Author:
Amlan G
Department of Management Studies
National Institute of Technology, India
Tel: 9434110206
E-mail: [email protected]

Received: December 18, 2015 Accepted: January 19, 2016 Published: January 22, 2016

Citation: Amlan G, Shrutikeerti K (2016) Factors Influencing the Participation in Defined Contribution Pension Scheme by the Urban Unorganized Sector in India. J Glob Econ 4:176. doi:10.4172/2375-4389.1000176

Copyright: © 2016 Amlan G, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.



The present study is focused towards understanding the financial behavior of unorganized workers about the various old age pension schemes provided by the Government of India, and their willingness to participate for voluntary contribution for old age. This paper has comprehensively analysed the issues related to New Pension Schemes (NPS) and highlights the appropriate gaps in the system through an empirical study in Burdwan District, West Bengal, India. The present study assesses the overall awareness level of NPS products and the factors that influence the individual behavior regarding everyday financial decisions. The study further examines the relative significance of these factors on voluntary participation in the NPS and finds that future financial concern and financial advice are very important factors that influence the decision making of the individuals. But the financial literacy is pivotal for awareness of the availability of such schemes for old age security.


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