Economic security of Elderly in India

India being at the stage of demographic and development transition is faced with challenges of reaping the advantage of demographic dividend and provide an economically secured life to its older population. The joint family system, a unique feature of our glorious heritage is disintegrating fast making elderly economically and socially vulnerable. The present study aims at critical assessment of government old age plans and policies using Meta analysis. The study reflected the existence of old age plans and policies since decades which have been revised appropriately to take care of the inflation. Policies such as NPOP, OASIS etc have been framed keeping in mind the vulnerable sections such as widows, destitute, unorganized workers but the question arises whether the amount of help offered is sufficient for them. The study reflected that government efforts have indeed brought a difference to their lives but assuming their full fledged responsibility is difficult. Pension is one of the largest components of state expenditures which is likely to increase making it unsustainable in long run. Therefore, individuals should be encouraged to contribute towards a self financed old age income security to ensure a life of dignity though not of luxury in old age