pinBox and World Bank develop and field-test a new paperless and cashless model for expanding voluntary pension coverage to India’s vast rural workforce


Under a FIRST funded project, The World Bank and pinBox assisted PFRDA (India’s pension regulator) and the Indian Ministry of Finance in developing a replicable model for expanding voluntary pension coverage to India’s rural workforce. In late 2016, pinBox and The World Bank pilot-tested this new, paperless and cashless, national ID-linked process. The field implementation was managed by a pinBox “mission office” in collaboration with the Krishna district Commissioner’s office in Andhra Pradesh. The new digital model developed under this project leverages the Aadhaar-based G2C infrastructure set up by the Government and the 26,000 fair-price shops already set up by the State to deliver subsidised food-grains to low-income rural households and G2P beneficiaries. Group meetings on retirement savings by pinBox trained fair price shopkeepers helped voluntary coverage of India’s defined benefit pension scheme grow by 500 percent in the pilot locations within the 6 months.

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