Make a retirement plan in time, do not regret it, know why – retirement planning news and new survey latest news

Surprising results in the survey

This survey on retirement preparations was conducted by Max Life Insurance Company. For this digital study, 2,093 people were included in 28 cities of India. The survey is being done for three years. The latest survey revealed that the Retirement Index (on a scale of 0 to 100) of urban India has risen to 47. Last two times this index was 44.

this is worrying

What is worrying is that two out of five people have not even started investing for their retirement. A large number of people believe that they have enough family wealth. Even after the breakup of joint families, their children will take care of them. This thinking prevents people from planning for retirement.

save at the right time

Nine out of 10 respondents aged 50 years and above regretted not having started saving for their post-retirement life at the right time. A large number of people (38 per cent) believe that people should start planning for retirement before the age of 35.

Amazing planning done by women

Urban women are now at par with men when it comes to post-retirement preparations. 52 per cent of women consider retirement planning to be the most important financial priority, compared to 48 per cent of men. Similarly, 66 percent of women expect their post-retirement life to be completely secure, while 60 percent of men believe so.

Only 16% are investing

64 percent of urban Indians are aware of the National Pension Scheme (NPS), but only 16 percent have invested in it. Life insurance products are at the forefront of investment preference for retirement needs. 95 percent people are aware of them and 75 percent have adopted them.

A strong picture of the economy also came to the fore.

Millennials participated in the survey for the first time. Looked more prepared and aware of retirement than people in other age groups. Prashant Tripathi, Managing Director & CEO, Max Life said, “India has witnessed an improvement in retirement preparedness, which also reflects the country’s strengthening economic condition.