Venky Iyer, Co-Chairperson, Insurance Awareness Committee (IAC-Life) 

“Taxation has a harder impact on income for pension earners.

We believe there is an opportunity to align taxation on pensions with other fixed-interest instruments by taxing only the interest or gains. This approach would increase post-retirement income for pension earners and mobilise long-term savings through life insurance solutions.

Additionally, providing a standard deduction for pension earners who do not commute their corpus would ensure tax parity across all pensioners."