After the success of Securing the Silent, last year, MicroSave launches the new version of Securing the Silent-III. In this new version, we have assessed the micro pension sector of India, which is estimated to have a potential of USD2.5billion per year. This state of the sector study is the first of its kind detailed objective analysis of micro pension sector in India. In this study, we have tracked the history of pension products for unorganised sector in India that started from state funded welfare schemes way back in 1970s. The study provides first of its kind detailed analysis of the recent NPS-Lite implementations including a brief discussion on the issues and challenges it is facing.