Urban India's Retirement Planning Surge: A Closer Look

The awareness of retirement planning in urban India is increasing, with many starting before age 35. The India Retirement Index Study reveals trends, regional opportunities, and challenges, especially among gig workers. The study shows health and financial readiness improvements, although 1 in 3 Indians still feel unprepared.

Awareness regarding retirement planning is on the rise among urban Indians, with a growing segment recognizing the importance of early preparation for life after work, a recent report indicates.

The India Retirement Index Study, conducted by Max Life Insurance, reveals that 44% of participants believe the ideal retirement planning age is under 35. Encouragingly, 63% have already initiated investments geared towards retirement, easing worries about future needs and children's security.

The study also uncovers regional disparities, with the eastern region leading in readiness, while western areas display strong financial progress but require emotional focus. Despite improvements in financial and health indices, one in three Indians remains underprepared, highlighting particularly low readiness among gig workers, according to Max Life's CEO Prashant Tripathy.

(With inputs from agencies.)