India's Retirement Index rises by 3 points to 47 on the back of increasing health awareness: Max Life Retirement Survey
Max Life Insurance Company Ltd has unveiled the findings of the third edition of its retirement survey, India Retirement Index Study (IRIS), conducted in partnership with KANTAR, the world’s leading marketing data and analytics company. The survey assesses urban India's preparedness to live a healthy, peaceful, and financially secure retired life. For the digital study, 2,093 respondents were surveyed across 28 cities in India.
City Air News
Aug 24, 2023 09:21
0
Max Life Insurance Company Ltd has unveiled the findings of the third edition of its retirement survey, India Retirement Index Study (IRIS), conducted in partnership with KANTAR, the world’s leading marketing data and analytics company. The survey assesses urban India's preparedness to live a healthy, peaceful, and financially secure retired life. For the digital study, 2,093 respondents were surveyed across 28 cities in India.
The study reveals that urban India’s retirement index (on a scale of 0 to 100) has risen to 47, a significant upward movement from 44 witnessed across the past two editions. The retirement index comprises three sub-indices mapping - health, finance, and emotion, and indicates an uptick across all three parameters. The improvement in the retirement preparedness comes at the back of a significant rise in health awareness that has moved 3 points to 44 in IRIS 3.0, from 41 in IRIS 2.0.
Prashant Tripathy, Managing Director & CEO, Max Life said, “This edition shows progress in India’s retirement preparedness, which also signals the country’s stronger economic resilience. Today's working population will be tomorrow's large, retired population. And it is imperative to register the urgency to plan for our retirement years as India manages its aging population and embraces longer lifespans. Our study provides insight on the barriers to being retirement-ready amongst urban Indians, as well as the advancements made by them in ensuring preparedness.”
Soumya Mohanty, MD and Chief Client Officer, South Asia, Insights Division, Kantar said, “The India Retirement Index Survey presents an insightful perspective into how urban Indians envision and plan for retirement. Over the past three years, the survey has played an instrumental role in uncovering the degree to which Indians feel financially, physically, and emotionally prepared for the retired life. Our partnership with Max Life further reinforces our shared dedication to safeguarding urban India's financial security across all life stages.”
