Indians are bad at retirement planning

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.


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


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.