India’s retirement landscape is evolving, but financial preparedness continues to lag behind rising aspirations, according to IRIS 5.0 released by Axis Max Life Insurance Limited. The national retirement readiness score has risen to 48, reflecting improved awareness. However, 63% of urban Indians remain worried that their savings may not last beyond a decade after retirement.
The study finds that 7 out of 10 Indians still view ₹1 crore as the benchmark for a comfortable retirement. Industry experts describe this as the “₹1 Crore Illusion,” especially as medical inflation hovers at 10–12% and essential service costs continue to climb. Research cited from Swiss Re Institute points to a widening retirement savings gap, largely due to funds parked in low-yield or illiquid assets.
IRIS 5.0 underlines three pillars for a resilient retirement strategy — financial readiness through structured income products like NPS and annuities, health buffers including comprehensive insurance, and emotional independence, with 71% fearing loneliness and 72% seeking autonomy in old age. Yet only 37% of Indians have achieved even a quarter of their target retirement corpus.
In Guwahati, wealth managers report rising interest in SIPs, ELSS funds and pension-linked products, especially among early-career professionals and women investors. However, consistent execution and long-term commitment remain key challenges. The report stresses a shift from wealth accumulation to sustainable income replacement to ensure portfolios remain inflation-adjusted and future-ready.
