Secure Micro-Payments

Once a low income worker becomes a Micro Pension client, they will be able to use a variety of secure, affordable, convenient and regulated channels for periodic transfer of microsavings to regulated product providers. Direct, cashless transfer of micro-savings effectively mitigates the risk of fraud, minimise reconciliation and cash management overheads, mitigates the risk of service interruptions (if an outreach partner ceases to provide ongoing field-level services) and improves governance and compliance.

Banking Customers of Partner Banks

Commercial banks including State Bank of India and Canara Bank, as well as a range of regional rural banks (RRBs) and district cooperative banks (DCCBs) are beginning to offer the IIMPS Micro-Pension education and product solutions to their no-frills banking customers. This effort aims at deepening the financial inclusion agenda and efforts of the government of India and the Reserve Bank of India. It also provides low income workers with a secure mechanism to channel their micro-savings for old age directly to regulated financial institutions.

Other Low Income Workers with Bank Accounts

Micro Pension clients with no-frills or regular bank accounts with any other scheduled commercial bank are able to effortlessly remit periodic micro-savings directly to UTI, LIC and NPS-Lite through an automated ECS process set up by IIMPS with BillDesk. This provides low income customers of ~25 of India's largest public and private sector banks with access to "micro-pension" products.

Unbanked Rural and Urban Poor

A number of current and target clients of IIMPS find it difficult to open a bank account and to access their bank accounts for depositing modest savings. Such unbanked Micro Pension clients will use their VISA prepaid cards or mobiles to electronically transfer micro-savings directly to IIMPS appointed product providers. Such clients will have access to thousands of secure, well distributed and easily accessible VISA prepaid outlets to top up their prepaid cards or mobile wallets.

Griveance Redressal Policy & Complaint Management for Prepaid Cards

We are the only social enterprise in the world focused exclusively on encouraging and enabling low income informal sector workers to accumulate micro-savings for their old age. We are committed to support our customers to achieve their pension goals. Our policy is to work very closely with the customers and in a most appropriate way. So, we have designed multiple channels to resolve customer complaints & grievance. We leverage our vast service delivery partners and multi-lingual helpline to receive & resolve the customer complaints & queries. Each complaint or query is recorded & monitored until closure. Griveance Redressal Policy: English | हिन्दी

Changing Lives
field updates

Low income individuals in remote tribal locations at Tamil Nadu are now being enrolled for "micro-pension" in partnership with Centre for Tribal Research and Development (CTRD).

IIMPS and eKutir will jointly assist low income farmers in Odisha to accumulate micro-savings through the Micro-Pension model.