Fi­nance Min­is­ter Dav­en­dranath Tan­coo an­nounced a phased in­crease in Na­tion­al In­sur­ance con­tri­bu­tions to pro­tect the fund from in­sol­ven­cy and pre­serve ben­e­fits for fu­ture gen­er­a­tions. The first 3 per cent rise takes ef­fect on Jan­u­ary 5, 2026, fol­lowed by a sec­ond 3 per cent in­crease on Jan­u­ary 4, 2027, spread­ing the bur­den over two years to min­imise im­pact on con­trib­u­tors while en­sur­ing the sus­tain­abil­i­ty of the sys­tem

Fi­nance Min­is­ter Dav­en­dranath Tan­coo has an­nounced that the age for re­ceiv­ing a full Na­tion­al In­sur­ance Sys­tem (NIS) pen­sion will grad­u­al­ly in­crease from 60 to 65, be­gin­ning in Jan­u­ary 2028.

The change will be phased in over a ten-year pe­ri­od, with the re­tire­ment age ris­ing by one year every two years un­til it reach­es 65 in 2036. Tan­coo said the move is aimed at se­cur­ing the long-term sus­tain­abil­i­ty of the NIS, which has faced grow­ing fi­nan­cial pres­sure due to years of ne­glect.