Indian retirees missed out on equity wealth: How decades of pension-led retirement saving left portfolios stock-light - The Economic Times

For the longest time, we had a defined benefit plan. Even today, we have around us many retired government and public sector employees (and their widows and dependent children as applicable) earning a lifetime inflation-adjusted monthly pension that is way beyond their contributions during their earning years.

Raccontata daeconomictimes.indiatimes.com