Urban Indians Turn a New Leaf with Proactive Retirement Planning: Insights from the India Retirement Index Study 4.0

Max Life's latest India Retirement Index Study 4.0, conducted with KANTAR, highlights an increase in retirement readiness among urban Indians due to improved awareness and early planning. Urban working women are leading this shift. The study also addresses regional differences and the challenges faced by gig workers.

Max Life Insurance has unveiled its 4th India Retirement Index Study, revealing a notable increase in retirement preparedness across urban India. Conducted in tandem with KANTAR, the study underscores the growing awareness around health and financial planning, with urban working women scoring higher on the retirement index than their male counterparts.

This edition of the study introduces focus areas on two new demographics: Double Income No Kids (DINKs) and Gig workers. DINKs scored in line with the national average, but Gig workers fell short, reporting lower readiness. The report emphasizes the urgency for comprehensive retirement planning, especially among these groups.

Key industry leaders provided insights at the India Retirement Insight Summit, directing attention to the significance of starting retirement planning early. The findings point to the growing role of life insurance products in retirement strategies, particularly among urban Indian working women who are taking a proactive approach to ensure health and financial security in their retirement years.

(With inputs from agencies.)