Should 60 be the age of retirement? As an individual who is in their 50s, would you want to retire at 60? I’m asking this question because this is intricately linked to the questions of pensions. Recently, India saw protests by govt employees over bringing back old pension Scheme i.e. OPS. Earlier, in states like Himachal pradesh and Rajasthan both ruled by Congress, OPS has returned. In Himachal Pradesh in fact that was the turning point for the party. Recently, maharashtra also witnessed protests by employee unions asking the system returns to OPS. The protest was called off after the assurances from the govt. But do you that India isn’t the only country where Pension has become such a contentious matter. Even France is witnessing strikes and protests on massive scales, sometimes violent, over pension. French president Emmaanual Macron although survived a no-confidence vote, is facing the heat over his pension reforms. So why has pension become such a contentious point? Why France’s pension reform led to protests? and what it says about Pension schemes in India?
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