Banks lent 19.5% more to industry this year. A year ago, that growth was 7.7%.
Bank loans to industry grew 19.5% this year, against 7.7% a year ago. Services credit grew 28.3% and personal loans 17.3%.
CapitalVia Research Desk ·
Data story · 3 Nov 2026
Retirement · Global Pension Index 2026
India's retirement system ranks 53rd of 55. On paying enough to retire on, it ranks last.
The Marsh CFA Institute Global Pension Index (formerly Mercer CFA) scores 55 pension systems covering 66% of the world's people. India's weakest mark is adequacy: how much income the system actually delivers in retirement.
55th
of 55 systems on AdequacyIndia scores 35.8 out of 100. The 55-system average is 66.5.
India 35.8Average 66.5 · scale 0–100
Below average on every measure. Furthest behind on adequacy.
India's score and rank (of 55) on each part of the index, against the average of all 55 systems.
India55-system average
Overall index
46.8rank 53
Average 65.3 · India is 18.5 points behind
Adequacy 40% weight
35.8rank 55
Average 66.5 · India is 30.7 points behind
Sustainability 35% weight
44.6rank 45
Average 55.4 · India is 10.8 points behind
Integrity 25% weight
67.3rank 50
Average 77.2 · India is 9.9 points behind
The top, and the bottom, of the table
Overall index score out of 100, selected systems. Number = rank of 55.
1Netherlands85.8
4Singapore82.0
55-system average65.3
36China60.6
50Indonesia50.7
51South Africa50.4
52Philippines49.2
53India46.8
54Türkiye46.6
55Argentina43.7
The index's authors say gaps under 2–3 points are not a definitive ranking, so India and Türkiye are effectively tied. Grade D (35–50) means "some sound features but also major omissions or weaknesses".
India's score rose 3 points this year. Most of that was a change in how it was scored.
The index says India's rise came "primarily" from a revised Integrity score, based on the share of members in the public system.
43.8
India's overall score, 2025
46.8
India's overall score, 2026
+2.2
of the gain came from the Integrity revision (58.4 → 67.3)
Integrity +2.2Adequacy +0.4Sustainability +0.3
CapitalVia calculation: each sub-index change × its index weight (40/35/25). Parts sum to 2.9, not 3.0, because published scores are rounded to one decimal. Adequacy itself moved only 34.7 → 35.8.
The gap that matters most
30.7points
India's distance from the global average on adequacy. That is about three times its gap on sustainability or integrity.
Why it matters to you
Salaried employees
EPF, EPS and NPS were built as a base, and the index rates India's system lowest of 55 on the retirement income it delivers. A retirement plan that leans only on them may fall short of the lifestyle a salary pays for today.
Founders & entrepreneurs
Many founders and the self-employed sit outside mandatory schemes altogether. Their retirement income depends almost entirely on what they set aside themselves.
Corporates & business leaders
The report's three suggested fixes for India: more support for the poorest older people, pension coverage for unorganised workers, and stronger rules for private pension plans. The third covers the employer-run schemes many companies offer.
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