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Micro Pension
In an effort to encourage and enable low income informal sector workers to accumulate micro-savings for their old age the Government of India and state governments drive major initiatives. Also lot of private players and social enterprises are venturing to improve the standards of living, especially informal sector workers.

The major issues faced are
  • Payments not received on time or not received at all
  • Underpayments Payments not received in full
  • Fraudulent payments - Fake signatures and representations enabling someone else to siphon off money in lieu of the actual recipient
OLiO helps Micro-pension agencies
  • For Customer acquisition with the enrolment by capturing biometric details of beneficiary and nominee.
  • To provide door step pension collection and disbursement
  • To link with existing bank accounts and provide transfer facilities
  • To avoid fraudulent payments with the use of bio-metric authentication
  • To collect single or multiple instalments and avoid underpayments
  • In keeping the transaction costs low