New Delhi, Aug. 22 -- India's retirement savings may not be enough to maintain the standard of living many workers have during their working years. Pension Fund Regulatory and Development Authority (PFRDA) chairman S. Ramann said India's retirement-income replacement rate is currently around 35-40%, well below the roughly 60% level considered globally.

The comments, reported by The Hindu following an interaction with Ramann in Chennai on Friday, come as the pension regulator seeks to widen retirement coverage among workers outside the government sector.

A retirement-income replacement rate broadly measures how much of a person's pre-retirement income is replaced by income after retirement. Ramann said the gap between India and the globa...