Question 1:Which of the following factors currently hinder the expansion of pension coverage in India?

1. Fragmented nature of existing pension schemes
2. Low financial literacy and lack of awareness
3. Saturation of private sector participation in pension schemes
4. Limited scalability and infrastructure of pension delivery

Select the correct answer using the code below:

A. 1 and 2 only
B. 1, 2 and 4 only
C. 2, 3 and 4 only
D. 1, 2, 3 and 4

Answer: B. 1, 2 and 4 only
Explanation:
Statement 3 is incorrect — India’s pension system needs more private sector support, not that it is saturated.
The article explicitly mentions fragmentation, lack of awareness, and scalability issues as key barriers.

Question 2:With reference to global pension models, consider the following statements:

1. Japan provides a flat-rate mandatory pension scheme that includes even self-employed individuals.
2. New Zealand offers a universal public pension based on a minimum residency requirement.
3. United Kingdom runs a mandatory public pension fund with complete government contribution.
4. Nigeria has improved pension access by investing in digital infrastructure.

Which of the above statements are correct?

A. 1 and 2 only
B. 1, 2 and 4 only
C. 2, 3 and 4 only
D. 1, 3 and 4 only

Answer: B. 1, 2 and 4 only
Explanation:
Statement 3 is incorrect — the UK runs an opt-out pension scheme, not mandatory with complete government contribution.
The rest are supported by the article as global examples of best practices.

Question 3:According to the article, which of the following steps are recommended to build an inclusive and sustainable pension system in India?

1. Creating a tiered pension system with a unified regulator
2. Offering voluntary pension savings with tax incentives
3. Launching targeted financial literacy campaigns
4. Prohibiting private sector investment in pension funds

Select the correct answer using the code below:

A. 1, 2 and 3 only
B. 1 and 3 only
C. 2 and 4 only
D. 1, 2, 3 and 4

Answer: A. 1, 2 and 3 only
Explanation:
Statement 4 is incorrect — private sector participation is encouraged, not prohibited.
The article outlines a three-tier pension framework, financial literacy initiatives, and tax-incentivised voluntary savings.

Question 4: Which of the following best describes the "old-age dependency ratio" referred to in the article?

A. The ratio of working-age population to child dependents
B. The ratio of elderly population to the total population
C. The ratio of people above 60 to those in the workforce
D. The ratio of formal pension scheme beneficiaries to total retirees

Answer: C. The ratio of people above 60 to those in the workforce
Explanation:
This is a standard demographic metric — old-age dependency ratio indicates the burden on the working population to support retirees.

Question 5:What is the Mercer CFA Global Pension Index, as referenced in the article?

A. A global index ranking the performance of public debt in emerging economies
B. A global index assessing the adequacy, sustainability, and integrity of pension systems
C. A global report assessing sovereign credit ratings of countries
D. A pension savings return tracker developed by the IMF

Answer: B. A global index assessing the adequacy, sustainability, and integrity of pension systems
Explanation:
The Mercer CFA Global Pension Index evaluates pension systems across countries based on their structure and outcomes.