Max Life Insurance Company Ltd. has revealed the fourth edition of its India Retirement Index Study (IRIS), highlighting significant progress in women's retirement planning and financial preparedness. The report shows that two-thirds of Indian women are actively investing for their retirement, surpassing both the national average and men's average. This highlights a shift towards financial independence among women.
The Max Life IRIS 4.0 report shows Indian women's proactive retirement planning efforts, highlighting gender disparity and greater commitment to saving and investing than their male counterparts. The report states that women's retirement index has increased to 50 from 47, above the national average. Notable growth has been seen in their Finance, Health, and Emotion index as well. Women increasingly prefer risk-based financial products, with 68 per cent investing in retirement products, 27 per cent investing in mutual funds or SIPs, 20 per cent in the stock market, and others opting for life insurance, health insurance, and fixed deposits.
Financial independence is a top motivator for investments, with lifestyle and family recommendations playing a significant role. Health and wellness are crucial to women's retirement plans, with over 80 per cent engaging in regular physical activities and 49 per cent having health insurance. Emotionally, retirement is associated with independence and stress-free living, but concerns about loneliness and financial dependence persist.
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