In India, the concept of Micro Pensions is already well established. Uthira and Manohar (2009) indicated that, the only formal Micro Pension scheme in India was rolled out by UTI Mutual Fund in collaboration with the Self Employed Women's Association (SEWA) Bank and Self Help Promotion for Health and Rural Development (SHEPHERD). These Non Governmental Organizations (NGOs) are known to have introduced the Micro Pension scheme to their members (Uthira and Manohar, 2009). As reported by Goyal (2010), the most commonly used scheme for providing Micro Pensions is the „partner-agent model‟ and this entails an insurance company managing the Micro Pension savings by pooling them in a fund, while a Micro Finance Institution (MFI) offers the