What are the retirement expectations of Indian youth?

A majority of the Indian youth want to retire early and are expecting a large pension, a study has revealed.

Retirement plan

Retirement preferences of Indian youth

In a survey conducted by Grant Thornton Bharat among various stakeholders across India to find out about retirement planning, more than 55 percent of the participants said that they expect a pension of more than Rs 1 lakh per month during retirement.

However, it has also been revealed that the savings they have made are not enough to compensate for this. This study reveals that there is a huge gap between pension preferences and retirement planning.

Most of the participants in the study said that they want to retire before the age of 45 to 55. However, they rely on traditional means such as provident fund, national pension scheme, and gratuity for retirement planning.

More than 76 percent of the participants in the study said that they have not invested in annuity plans. The study emphasizes the need for more awareness regarding retirement planning.

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