By Bernama,
New Delhi : Almost 70 per cent of Indians is worried about outliving their retirement money, as they have not done any independent planning other than government mandatory plans.
According to the MetLife surveys, only two out of ten employees opt for a retirement plan.
“Despite the worries about funding a comfortable retirement or outliving their retirement savings, many full time employees have taken few or no steps at all, to plan for retirement,” the Press Trust of India (PTI) quoted MetLife India Managing Director Rajesh Relan as saying on Wednesday.
MetLife survey found that almost 71 percent workers said they are concerned about their outliving retirement money, while 35 per cent have taken the necessary steps to determine their retirement needs.
“And only 20 percent have done actual planning for retirement,” Rajesh said, quoting the survey as saying.
The survey also points out that 81 percent employees in Mexico too do not have retirement plans.
“Developed countries show low percentage in having retirement plan, such as Australia (58 percent), the United States (46 percent) and the United Kingdom (31 percent)
MetLife surveys — the study of International Employee Benefits Trends and the sixth annual US Study of Employee Benefits Trends.