Explanation:

loopholes-

1.With about 22 percent of India’s population living below the poverty line, the “unorganized” sector, i.e. enterprises — mainly in agriculture, which are not legally covered by any form of social security, is disproportionately large.
2.Social Security is more than just a retirement program. It provides important life insurance and disability insurance protection as well.
3.Retirement benefits aren’t much progressive to keeps up with increasing cost of living.