Source: India Retirement Index Study 3.0. The survey was conducted by Max Life Insurance, in partnership with Kantar. As many as 2,093 respondents were surveyed in 28 cities during July-August 2023. The retirement index is calculated on a comparable base of 1,591 respondents. All figures do not add up to 100%.
Retirement index rises to 47
3 in 5 believe health is the most important in retirement
Q. Which of the following will be most important to you during your retirement age?
80% Indians think they will be healthy in retirement, with 58% having availed of health check-ups in the past three years.
Indians equate retirement with stress-free life
Q. Which statement do you associate with retirement?
2 in 5 have not begun retirement planning
Q. How many of you have not started investing for retirement?
40% 2023
37% 2022
90%Indians in the 50+ age group regret not saving earlier for retirement.
Life insurance is the top saving instrument for retirement and other goals
Q. Which of these financial products/services are you aware of/ have invested in?
61% worry retirement savings will deplete in 10 years
Q. How long will your savings last during retirement?
38% think retirement planning should begin before 35 years
Q. What’s the right age for retirement planning?
Dependence on kids hinders retirement planning
3 in 5 are set to stay with kids in retirement