Friday, November 21, 2008
Pension administration matters
Successful pension reforms requires a confluence of good policy thinking, good politics and good administration. The latter seems like housekeeping, but it makes all the difference between lofty ideas and actual execution. A key edge of the New Pension System (NPS) was that right from day one (i.e. circa 1999), there was a fully articulated plan for how every detail of administration would be done. The good folks working on NPS implementation at NSDL, PFRDA, the Department of Expenditure, various state governments, etc. should notice that mistakes in pension administration can be a matter of life and death.