Milliman’s India office conducts an annual study of the pension and gratuity obligations of the 26 public sector banks in India to report the major trends with regard to these obligations. The main aim of the study is to educate and create awareness about the state of employer-sponsored retirement programs and foster a healthy dialogue among policy builders, employers, employees, and the general public about the future of retirement plans in India. This is our first such publication.
The following report is divided into two sections: the Pension Study, which contains details about the state of funded pension plans sponsored by the 26 public sector banks, and the Gratuity Study, which contains details about the funded gratuity plans of the same 26 public sector banks.