78 Percent Indians Feel They Don't Save Enough for Retirement: Study
With most Indian employees expecting to retire around the age of 60, saving for retirement has appeared as the top financial priority for those above 50 and amongst the top 3 across all age groups.
Amongst members of retirement plans, housing and saving for retirement are the top 2 priorities in the below 40 age group, while saving for retirement is the top priority for those above 40.
"While many remain unsettled about their post retirement financial prospects, India has a relatively young workforce, thus allowing them time to plan.
"That said, there is an evident need for the government and employers to take cognizance of the issue and incentivise or mandate such savings," Sriram said.
The survey was conducted across 12 countries, covering 22,347 employees working for large, non-government employers.
Also Read:
5 Mantras For Mutual Fund Investors
RBI Sets Up Working Group On Tax Practices For Financial Instruments
