India currently enjoys the fortunate position of relatively high savings rates, with majority of respondents expecting to be better off in retirement than their parents’ generation. In addition, India does not face the pressing demographic challenges of most of its peers. However, its demographic dividend is unlikely to last and Indians will eventually face the same challenges of how to provide for an ageing society, says HSBC’s ‘The Power of Planning’ report.
Also see | Retirement Landscape (PDF)
Many Indians are concerned their savings will not be sufficient, with 10% of respondents expecting to be worse off in retirement than their parents’ generation. The Future of Retirement programme is an independent study into global retirement trends. The study is based on the views of 1,028 respondents in India.
Graphic and Illustration by Uttam Sharma/Mint