Max Life Insurance Company Ltd. released the results of its third edition of the India Retirement Index Study (IRIS), conducted in partnership with KANTAR. The survey evaluates urban India’s preparedness for a healthy, peaceful, and financially secure retired life. The digital study surveyed 2,093 respondents across 28 cities.
The study shows that urban India’s retirement index has increased from 44 to 47, reflecting a significant upward movement from 44 in the past two editions. This improvement is attributed to a 3 point increase in health awareness, which has moved from 41 in IRIS 2.0 to 44 in IRIS 3.0. Prashant Tripathy, Managing Director & CEO, Max Life said, “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.”
Urban Indians are increasingly recognizing retirement as a stress-free life, with a higher retirement sentiment (73%) than IRIS 2.0. They associate it with positive emotions like family time, independence, and luxury travel, while others associate it with negative feelings like unhealthy lifestyles, reduced savings, and lack of purpose. However, 2 out of 5 urban Indians worry about their savings depleting within five years of retirement.
