The study looks into challenges before the pension system in India with a special mention of Kerala which in an explicit sense a front runner in demographic achievement and is standing with a notion of welfare state. The study mainly looks at the fiscal stress which of the pension system where available pension system to the -minority - drags very large resources of the state and looks for how this non developmental component of the public expenditure goes up in a fast aging society as in Kerala and in turn result in the pension crisis that having effect on intergenerational distribution. The...