India's workforce will retire later as life expectancy improves: Eco Survey

Economic Survey says government must plan for pensions and other retirement provisions.

India's working population could retire later than 60 because of improving life expectancy, said the Economic Survey on Thursday.

India's population is expected to grow under 0.5 per cent during 2031-41 due to decline in fertility rate and increase in life expectancy.

"Since an increase in the retirement age is perhaps inevitable, it may be worthwhile signalling this change well in advance – perhaps a decade before the anticipated shift – so that the workforce can be prepared for it," said the survey for 2018-19.

The survey pointed out that this will also help plan in advance for pensions and