Is ₹1 crore enough for your retirement?

A recent study by Axis Max Life Insurance has found that the once popular retirement benchmark of ₹1 crore is no longer sufficient for a comfortable retirement in India. In 2025, 77% of urban Indians believed that this amount would be enough, but this number had dropped to 70% by 2026. At the same time, the average Indian has only managed to accumulate 28% of their target retirement corpus, highlighting a significant gap between expectations and actual savings.

The study indicates that retirement needs are influenced by various factors such as lifestyle, expenses, retirement age, inflation, healthcare costs, and time horizon. Urban Indians in Tier I cities, for example, have higher retirement corpus expectations (73%) compared to those in Tier II cities (77%).

Changing retirement aspirations, growing financial anxiety, and a focus on health and family support are also impacting retirement planning. A significant number of Indians (62%) believe that retirement planning should begin with the first paycheck, with younger individuals starting earlier (average age of 31) compared to older generations.

Healthcare costs are emerging as a critical factor for retirees, with 75% of respondents expecting to remain healthy during their retirement years. While this is a slight decrease from the previous year, 41% of respondents engage in regular physical activity, and 21% use wearable devices to monitor their health. Around 52% have health insurance coverage.

Retirement goals are also becoming more diverse, extending beyond traditional notions of work cessation. A quarter of respondents look forward to travel, hobbies, and personal passions during retirement, indicating a shift towards individualized retirement aspirations based on personal interests and activities.