Retirement savings: India most confident
Indians are the most confident when it comes to the current level of savings, with 39 percent believing that they are well prepared for retirement, a recent study by global management consulting, technology services and outsourcing firm Accenture.
Indians, followed by Chinese and Americans, are the most confident about savings with 39 percent, 28 percent and 21 percent respectively believing that they are saving enough for their retirement; compared to the global average of 16 percent, found the `Accenture Global Retirement Survey 2012'.
Russians (4 percent), Japanese (5 percent) and South Koreans (8 percent) are the least confident about preparations for a retired life, it says.
Accenture had commissioned a survey of 8,112 individuals between 25 and 60 years old in 15 countries.
About 39 percent of Indians have already privately invested in a retirement product, compared to 12 percent in Russia, 19 percent in Australia, 20 percent in Brazil and 29 percent in Spain.
However, compared to the global average of 82 percent, Indians were slightly higher at 84 percent in being worried about financial situation after retirement, it says.
Britons, Germans, Australians and Americans are the more optimistic with 65 percent, 66 percent, 69 percent and 70 percent of respondents, respectively, saying they are worried about their financial situation after retirement.
South Koreans (95 percent), Mexicans (92 percent), Russians (92 percent) and Spanish (91 percent) are the most pessimistic.
Indians 64 (percent) and Chinese (86 percent) also appear to have a good understanding of and access to information on the different retirement planning options, as they
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