How Indians plan their retirement, in 5 charts
SummaryIndians, across income groups and geographies, have a long way to go when it comes to financially securing themselves for a comfortable retirement, suggests a new survey by Sambodhi Research and pinBox Solutions
Most Indians (52%) expect their children to provide them financial stability when they get old, with 28% yet to start saving for retirement, a new survey has found. Rural Indians know less of old-age financial planning needs, and also save less, often due to uncertain income flows, found the ‘Digital and Financial Inclusion Barometer’ survey by Sambodhi, a research group, and pinBox Solutions, a global digital micro-pension inclusion platform. Better financial literacy, increased access to financial advisors, and normalized discussions on money matters could improve retirement planning, especially in rural areas, experts said.