Bashir Bhat wakes before dawn in Srinagar, weaving his delivery bike through narrow lanes and crowded markets.

At 42, he thinks about the future more than he used to.

Every month, he watches older men and women collect their pensions of about one thousand five hundred rupees and wonders how he will manage when he can no longer work.

“I see people struggling to buy medicine or food,” he says. “They get money every month, but it is not enough. I do not want to end up like that when I grow old.”

Bashir’s concern reflects a wider reality in Jammu and Kashmir today.

Over eight lakh people in the Union Territory receive monthly pensions through the government’s social schemes.

About four and a half lakh live in Kashmir Division, and three and a half lakh in Jammu Division.

The government recently raised payments for those aged 60 to 79 to one thousand five hundred rupees and for those above 80 to two thousand rupees per month. Pensions for people under 60 are one thousand two hundred fifty rupees.

These increases cover pensions for old age, widowhood, disability, and transgender beneficiaries.

But many pensioners still struggle to meet daily needs.

Haleema Zargar, 67, was at a stall in Bemina market buying apples. She said the monthly pension is not enough for basic expenses.

“I am grateful for the help,” she said, “but the price of food and medicine has gone up so much. This money can only last a few days.”

Government pensions once offered steady support for people who worked in public service.

A teacher, for example, might have retired with a monthly pension of fifty thousand rupees, enough for an annual income of six lakh rupees. 

That allowed retirees to pay bills, cover medical expenses, and live comfortably.

But today, most workers outside government jobs must plan for themselves. 

Financial experts stress the importance of starting early and saving consistently.

“Even small amounts can grow significantly over time,” said a Srinagar-based AMFI–registered mutual fund distributor. “The key is discipline, patience, and understanding compound interest.”

To give an example, someone like the teacher mentioned above, who wants to receive ₹50,000 per month after retirement with a 10% return on investments, would need a total of about ₹60 lakh.

“Saving five hundred thirty rupees each month at a fifteen percent annual growth over thirty-five years could reach that goal,” the mutual-fund distributor continued. “This shows how starting early and saving steadily can make a big difference in later life.”

But many Kashmiri families still rely on informal savings or help from relatives. Many are not even aware of formal pension options.

“Structured schemes like the National Pension System (NPS) and Atal Pension Yojana (APY) are gaining attention,” said Tabasum Qazi, a social welfare worker. “NPS allows individuals to invest regularly and withdraw in phases after retirement.”

APY offers a guaranteed monthly pension of one thousand to five thousand rupees after age 60 depending on contributions during working years. 

APY has millions of subscribers in India, while NPS manages over fourteen lakh crore rupees in investments, showing a growing interest in retirement planning.

Bashir has started setting aside small amounts every month. He also studies investment options like mutual funds and government-backed schemes.

“I want to make sure that when I stop working, I do not have to depend entirely on others,” he said.

Many young Kashmiris are starting to take the same approach. 

They understand that pensions help, but they may not be enough to live comfortably.

Experts recommend saving early, investing wisely, contributing regularly, and being patient. Bashir follows all four. 

For him and many others, retirement planning is essential to build a secure financial future.

“I do not want to worry about life when I am too old to work,” Bashir said. “I want to be ready.”