Positive Aspirations and Expectations

Respondents in India are amongst of most positive of all the countries surveyed, both with regard to expectations for the economy and their own financial situation in the next 12 months:

1. 48 percent expect the economy to get better;

2. 57 percent expect their own financial situation to get better;

3. 45 percent believe that future generations of retirees will be better off than those currently retired.

 37 percent (double the global average of 19 percent) of workers are confident that they will be able to fully retire with a lifestyle they consider comfortable and 43 percent of fully retired Indians are confident that they will always be able to live in retirement comfortably.

 Planning

1. 61 percent claim to have a plan for retirement, but not one which is written down.

2. 53 percent claim to have a back-up plan in case they are unable to continue working before planned retirement age is reached. For 74 percent of those with such a plan, savings will be used.

Indians (both workers and those already fully retired) are using a range of instruments to invest in for retirement:

1. Fixed deposits (59 percent) and Life insurance (54 percent) were mentioned by over half of those surveyed.

2. Other popular instruments include: Provident Funds (47 percent), gold (41 percent), property (40 percent), pension funds (NPS) (37 percent), and mutual funds (35 percent).