- Date : 07/12/2017
- Read: 3 mins
Aegon conducted a series of surveys across 15 countries and discovered that Indians are most prepared and confident of living a comfortable lifestyle after retirement.

In its series of Retirement Readiness surveys conducted among working professionals and fully retired people across 15 countries, Aegon discovered that Indians are more confident about retirement than their global counterparts.
The countries that participated in this 2015 survey were:
Most working professionals from these countries are pessimistic about achieving their retirement aspirations except Indians, where 44% are confident that they will be able to fully retire with a comfortable lifestyle. The survey revealed that even among retirees, Indians are faring far better than retirees from other countries, with 56% confessing to living a comfortable lifestyle, compared to just 17% globally.
Nearly 73% of working Indians workers feel they will have to provide financial support to their family members, apart from their spouse, after retirement.
More than 51% of them are saving regularly for retirement, and are using a mix of investment and saving options like bank accounts, life insurance, and mutual funds etc. No wonder India ranks highest on Aegon’s Retirement Readiness Index.
Indian workers score 6.98 out of 10 on the ARRI, the highest score of all countries covered by the survey, and compares to a global average of 5.86.
It is immediately followed by Brazil with 6.7 points. China and U.S.A occupy the third position with 6.5 points on the index. Japan ranks lowest with 4.8 points.
Here are the major findings of the survey.
1) Indians are mostly confident about retiring with a comfortable lifestyle.
Even when compared globally, Indians are more confident of retiring with a comfortable lifestyle. Only 13% Indians are not confident of retiring comfortably which is way less than the global 41%.
2) Among the ones who have already retired, 56% confessed being either very or extremely comfortable.
Globally, only 17% percent retirees are leading a comfortable lifestyle, which is less than one-third of the percentage of Indian retirees leading a comfortable lifestyle.
3) Indians feel that they would need 58% of their income after retirement
Only 10% Indians feel that they would need as much as 80-100% of their current annual income post retirement and only 4% feel that they would need more than what they are earning today, to live comfortably after retirement.
5) Around 60% Indians feel they are saving enough for retirement
Only 15% Indians feel they are not saving enough for their retirement.
6) Saving accounts and life insurance are the most common ways of saving for retirement.
Globally, too, these two are favourite means of preparing for retirement. However, the percentage of people investing globally in Savings accounts and life insurance is less than India’s. Private pension is the least relied retirement income option, with only 29% contributing to it in India, and 24% contributing to it globally.
7) Indians save regularly to reach their retirement income goals.
51% Indians save for retirement regularly. 12% people confessed to not saving for retirement, even though they think should. Only 2% Indians felt no need to save for retirement.
To read the detailed report visit Aegon Retirement Readiness Survey 2015
To know how prepared you are for retirement, click here.