New Delhi: Awareness about retirement planning is increasing in urban India. This is the reason why a large number of people are feeling the need to plan in advance for life after retirement. This has been said in the India Retirement Index Study (IRIS) report recently released by Max Life Insurance. This report has been prepared on the basis of answers received from 2,077 people aged 25-65 years from 28 cities. 29 percent of the respondents were men and 71 percent were women.

Some highlights of this report

Number game 44 percent Indians believe that retirement planning should be started before the age of 35. At the same time, 63 percent people said that they have started investing for retirement planning in advance. Apart from this, 68 percent urban working women have also started investing for post-retirement.

Eastern region tops in overall preparedness IRIS also provides information on regional opportunities in retirement planning across the country. According to the report, the Eastern region tops in overall preparedness for retirement planning. The Western region is showing progress in financial and health, but needs emotional attention. The North and South regions are improving in the Health Preparedness Index.

Improvement in financial and health indices Prashant Tripathi, MD and CEO, Max Life, says that the retirement index of urban India has improved with positive growth in financial and health indices. But 1 in 3 Indians still feel underprepared.

Further, he said that this year we also focused on gig workers due to the rapid growth of India's gig economy. The study found that they have lagged behind with less preparation for retirement. They can be brought at par with the national average through focused interventions.