Indians most well-prepared for retirement: Survey

A recent survey by global financial services giant, Aegon, says that Indians are the most well-prepared for retirement. The study had 16,000 respondents from 15 countries, including 1,000 Indians. Here are some of the findings of the survey in India.

INDIA SCORES HIGH ON RETIREMENT READINESS

India’s high score on the Aegon Retirement Readiness Index is also linked to the strong savings culture in the society. Many are optimistic about future prosperity.

HOW WILL THINGS FARE OVER THE NEXT 12 MONTHS?

Expectations for both the economy and one's own financial situation for the next 12 months are far more positive than negative.


WILL YOU BE BETTER OFF THAN TODAY'S RETIREES?

Almost half of the future retirees expect to be better off than the present crop.

HAVE YOU WRITTEN DOWN YOUR PLAN?

Despite the relatively positive picture, only 1 in five Indians has written down his retirement plan.

DO YOU HAVE A BACK-UP PLAN?

One in two Indians doesn't have a back-up plan in case he has to stop working before the planned age for retirement.

WOULD YOU PREFER GUARANTEED PENSION?

62% want lower but guaranteed returns. 31% prefer higher returns even if uncertain.

WHAT DRIVES SAVINGS FOR RETIREMENT?


Though lack of money is a hurdle, transparency of retirement savings, better advice and simpler products also help.


HOW DO YOU WANT YOUR RETIREMENT SAVINGS?

Most prefer a regular income, possibly with a lump sum payment as well.


WHAT WILL YOU DO ON SUPERANNUATION?


One out of five Indians will continue to work even after retirement.