Title: Determination of satisfaction level of national pension system in India: an exploratory study

Authors: Debasmita Panigrahi

Addresses: Institute of Management and Information Science (IMIS), Swagat Vihar, Bhubaneswar, Odisha, India

Abstract: In this paper, we evaluate the implication of the national pension system since its inception relating to its acceptability and satisfaction level of its services towards investors. We take a sample of 297 respondents both from central and state government employees in the geographical region of Odisha and West Bengal in India. Using an exploratory factor analysis, we find that the features of the new pension scheme (NPS) can be grouped under three factors, i.e., 'cost and benefit of choice', 'social security and service' and 'awareness and knowledge'. Using structural equation modelling and OLS regression, we document that these attributes of the NPS have a positive and significant bearing on the satisfaction level of the investors. This study contributes to the existing literature on pension reforms in general and NPS in particular in emerging nations.

Keywords: awareness; new pension scheme; pension; return; social security; satisfaction; India.

DOI: 10.1504/IJICBM.2024.136805

International Journal of Indian Culture and Business Management, 2024 Vol.31 No.2, pp.184 - 201

Received: 17 Jun 2022
Accepted: 26 Jul 2022
Published online: 22 Feb 2024 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article