New Delhi, Oct. 1 -- India needs to encourage households to commit a larger share of their savings to long-term pension products as pension and insurance assets remain a relatively small part of household savings, Chief Economic Adviser V Anantha Nageswaran said, calling for simpler pension products, wider access and stronger retirement-income solutions.

Speaking virtually at an event marking NPS Diwas 2025-26, Nageswaran said Indian households have changed their saving patterns, with a sharp rise in market-linked investments, but pension savings have not increased at the same pace.

"The Indian saver has shown a willingness to accept market risk or so we would like to believe. What the saver has not yet done at scale is to commit saving...