Indians are bad at retirement planning

[suresh]

44% - I have not thought about retirement, as people like me cannot retire from work.
33% - I know I will have to retire one day, but I have not given it much of a thought.
13% - I have already started actively saving for old age.
10% - I actively think about old age financial security and have a definite course of action.

Planning for retirement
No retirement expected	Actively saving	Planning	No planning
44%	13%	10%	33%

Source: Report of the Household Finance Committee - RBI

There was also a 2015 report by Ipsos MORI which found that one in 10 working people have never received professional advice. Friends and family were the most common source of retirement advice.

[Abhishek87]

These numbers are shocking. But Yay!!, thanks to karthik i’ve started my planning.

[Sanket]

@suresh

There was also a 2015 report by Ipsos MORI which found that one in 10 working people have never received professional advice. Friends and family were the most common source of retirement advice.

I think this has to change. We live in a dynamic world where is constant change and if people don’t have a financial cushion when they reach his retirement age then they are in for some torrid times. For example, the threat of automation and the overuse of unskilled labor will render a large part of the Indian populace jobless. We are not creating engineers in this country but rather breeding them. Amidst such profound change if people aren’t focussing on building a retirement kitty then god save them.