CEA Urges Shift to Long-Term Savings for Retirement Security

Chief Economic Adviser V Anantha Nageswaran called on Indians to prioritize long-term savings over short-term trading, noting pension assets are only 17% of GDP versus at least 80% in OECD peers. He highlighted that while equity and mutual fund shares in household savings have risen, pension and insurance shares remain stagnant. Nageswaran spoke at an NPS Diwas event, urging collective efforts to promote long-term investing for retirement security.