7 in 10 Urban Indians Aspire to Retire Early, yet 82%
of Gen X+ Fear They May Need to Keep Working: Axis Max Life’s Bharosa Talks
IRIS 6.0
|
KEY HIGHLIGHTS: ·
Retirement ambition is being
redefined: 7 out of 10 urban Indians aspire to retire
before the traditional retirement age if financially prepared, with 1
in 2 wanting to achieve Financial Independence and Retire Early (FIRE) before
50. ·
But the reality closer to retirement
is stark: 82% of Gen X+(aged 45 +) feel they may never
be able to retire from work/business as they would need a steady regular
income, while 91% of respondents aged 45+ regret not starting retirement
investments earlier. ·
The corpus gap remains significant: urban
Indians have accumulated just 28% of their target retirement corpus on
average; only 11% believe their corpus will last their lifetime,
while 39% believe it may not last even five years. ·
Gen Z could be changing the retirement
trajectory: 62% have already started investing for
retirement, while Gen Z believes retirement planning should begin at an
average age of 29. Overall, 1 in 2 urban Indians believes planning should
begin with the first paycheque. ·
The ₹1 crore retirement benchmark is
losing conviction: the proportion believing ₹1 crore or less is
sufficient to retire comfortably has declined from 77% to 70%, falling to
51% among respondents with
household income above ₹15 lakhs. Retirement
readiness is broadening beyond metro cities: Tier II
cities’ Bharosa Talks IRIS score has climbed from 44 to 48, while in metro
cities it remains at 50, signalling a narrowing preparedness gap. ·
Overall retirement preparedness
remains resilient: the Bharosa Talks IRIS score stands at 49 in
2026, compared with 48 in 2025 and 44 in 2022, supported by improving
financial confidence while health and emotional preparedness remain broadly
steady. |
New Delhi, September 16, 2026:
Axis Max Life Insurance Limited (“Axis Max Life” / “Company”) today unveiled
the findings of the sixth edition of its annual Bharosa Talks India
Retirement Index Study (IRIS 6.0), conducted in partnership with Kantar.
The study reveals a fundamental shift in how urban India is imagining
retirement: Indians increasingly want to retire earlier and are beginning to
think about retirement sooner, but the financial journey from aspiration to
preparedness remains substantial.
India’s overall retirement preparedness remained
resilient this year, with the Bharosa Talks IRIS 6.0 score of 49 in 2026,
compared with 48 in 2025 and 44 in 2022. Financial preparedness score improved
marginally to 52 from 51, health preparedness score remained unchanged
at 46, while emotional preparedness score stood at 57 compared with
58 last year.
The sixth edition of Bharosa Talks IRIS finds that 7
out of 10 urban Indians would like to retire before the traditional retirement
age of 58–60 if their financial needs are fully taken care of. Half of
those who want to retire, aim to achieve Financial Independence and Retire
Early (FIRE) before the age of 50. However, respondents have accumulated only 28%
of their target retirement corpus on average, highlighting the distance
between retirement ambition and financial readiness for retirement.
Sumit Madan, MD & CEO, Axis Max Life
Insurance, said, “One of the clearest messages from
Bharosa Talks IRIS 6.0 is that retirement remains a financial challenge for
many Indians. The finding that 82% of Gen X+ respondents expect to continue
working for a steady income highlights a critical reality: retirement is not
about reaching a certain age, but about having the financial freedom to choose
what comes next. True retirement readiness should empower individuals to work
because they want to, not because they need to. Encouragingly, younger Indians
are beginning their retirement journey much earlier, signalling a welcome shift
from reactive planning to proactive preparation. The task ahead is to convert
this intent into sustained action across finances, health and emotional
wellbeing, because a secure retirement is ultimately about independence, choice
and peace of mind.”
Soumya Mohanty, Managing Director &
Chief Client Officer, South Asia, Kantar, said, “
Bharosa Talks IRIS 6.0 shows retirement planning evolving across generations
and geographies. Younger Indians are starting the retirement planning process earlier.
Health is also becoming an important part of retirement preparation, with 59%
claiming to undertake regular or occasional health check-up. Additionally, out
of those who regularly take part in physical activities, 44% engage daily. Tier
II cities have also strengthened their retirement preparedness, pointing to a
broader retirement conversation across urban India.”
KEY FINDINGS FROM INDIA RETIREMENT INDEX STUDY 6.0
Retirement planning gets younger as FIRE gains ground
The retirement conversation is beginning earlier. One
in two urban Indians believes retirement planning should start with the first paycheque,
while the average age at which respondents believe they should start thinking
about retirement savings is 31 years. This falls to 29 years among Gen Z,
compared with 31 years among Millennials and 34 years among Gen X+.
This mindset is translating into early action among
younger Indians: 62% of Gen Z respondents have already started investing for
retirement, compared with 70% of Millennials and 75% of Gen X+
Indians know their ‘retirement number’, but reaching
it remains a challenge
While 61% knows the corpus they would require to sustain
their current lifestyle during retirement, confidence in its adequacy remains
limited. Only 11% believe their retirement corpus will last their lifetime,
while 39% believe it will not last even five years.
The perception of what constitutes an adequate corpus
is also changing. The proportion believing ₹1 crore or less is sufficient for a
comfortable retirement declined seven percentage points, from 77% in 2025 to
70% in 2026. The belief is particularly lower among respondents earning a
household income of more than ₹15 lakh annually, at 51%, and among metro
residents, at 63%.
The accumulation challenge becomes more pronounced
closer to retirement. Respondents have accumulated 28% of their target corpus
on average, with Gen X+ at 29%. Among Gen X+ respondents, 91% regret not starting
retirement investments earlier.
Healthy ageing emerges as an integral part of
retirement preparedness
Health remains central to how Indians think about
retirement. 75% expect to remain healthy and fit during their retirement years.
Today, 52%
claim to have purchased health insurance, and out of those who
regularly take part in physical activities, 44% engage daily. Additionally, 21%
use wearable devices to track their health.
Retirement preparedness also carries a strong social
dimension. 87% expect to live with their children during retirement,
reinforcing the continuing importance of India’s family-centric retirement
model. At the same time, belief in having family and social support during
retirement has declined from 87% to 84%.
Tier II Cities of India closes the gap; East continues
to lead
Tier II cities recorded the strongest improvement
among city tiers, with their Bharosa Talks IRIS score rising from 44 in 2025 to
48 in 2026, supported by an improvement in health preparedness. Metros remained
at a Bharosa Talks IRIS score of 50, while Tier I cities stood at 48.
Regionally, East continues to lead with a Bharosa
Talks IRIS 6.0 score of 52, followed by West and South at 49 and North at 47
respectively. South registered an improvement in health preparedness, rising to
47 from 43 in 2025.
Women demonstrate a balanced approach to retirement
Women recorded a Bharosa Talks IRIS 6.0 score of 49,
at par with men, supported by comparable financial, emotional and health
preparedness.. 62% of women know the corpus they require for
retirement, 52% have claimed to have health insurance and 41% actively engage
in physical activities. Further, 30% believe their retirement corpus will last
more than 10 years.
Read more about the India Retirement Index Study at - <Website Link>
About Bharosa Talks, India Retirement Index Study
Conducted in partnership with Kantar, Bharosa Talks India
Retirement Index Study (IRIS) enters its sixth edition this year, marking an
important milestone in retirement research in India. Over six consecutive
years, Bharosa Talks IRIS edition has tracked the nation's retirement
preparedness, making it India’s one of the most consistent retirement-focused
consumer study. The relative
stability of this year's findings reinforces key long-term trends and provides
a robust benchmark for understanding how Indians are planning for life after
work.
Bharosa Talks Platform is
Axis Max Life Insurance’s thought leadership platform dedicated to exploring
the meaning of trust (Bharosa) in contemporary India. Through its
flagship studies, India Protection Quotient (IPQ) and India Retirement Index
Study (IRIS), and the Bharosa Talks Podcast featuring experts, industry leaders
and celebrities from diverse fields, the platform fosters meaningful
conversations on the factors shaping Indians' confidence, security and future
aspirations.
About Axis Max Life Insurance Limited (https://www.axismaxlife.com)
Axis Max Life Insurance Limited (the “Company”),
formerly known as Max Life Insurance Company Ltd., is a subsidiary of Max
Financial Services Limited (“MFSL”) with Axis Bank Limited and its affiliates
also being shareholders of the Company. Axis Max Life offers comprehensive
protection and long-term savings life insurance solutions through its
multi-channel distribution, including agency and third-party partners. The
Company has built its operations on a need-based sales process, a customer
centric engagement model and trained human capital. As per audited financials
for FY2025-26, Axis Max Life recorded a gross written premium of INR 38,877
crore.
IRDAI Registration. No – 104
Company Identification Number - U74899HR2000PLC143012
For more information, please visit the Company’s
website at www.axismaxlife.com
About Kantar
Kantar is the
world’s leading marketing data and analytics business. We deliver the
intelligence needed to power brand growth.
We provide the
signals that help organisations act quickly and confidently. We empower brands
to make effective marketing decisions based on predictive evidence. And we help
them craft powerful growth strategies rooted in the connection between
consumers, brands and enterprise value.
All this is
powered by our uniquely robust human and synthetic data, our unrivalled IP, our
AI-native platform and the team of global brand experts that bring this all
together.
To know more, visit www.kantar.com
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