Pension Plan: According to a report, the number of people planning for retirement has increased significantly since Covid-19. People have become very aware about such pension plans. In the PGIM India Mutual Fund Retirement Readiness Survey 2023, about 67 percent respondents said they had a retirement strategy, compared to 49 percent in 2020. This report states that self-employed people have been found lagging behind in their retirement planning and preparations. 3,009 people in nine metros and six non-metropolitan cities were included in this report. Of the respondents who said they do not need financial planning, 40 per cent live in Tier-I cities, have an income between Rs 50,000 and Rs 75,000, are aged between 51 and 60 years, and are mostly self-employed. There are jobs. However, according to the report, the number of people who are aware about pension plans, future needs and savings is quite high. In such a situation, you need to understand why a retirement plan is important for you.
