Simple instruments key to retirement savings

Jul 08 2014, 02:07 IST
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SummarySimple investment products offering guaranteed payouts will ensure that people channelise their money into pension products.

Simple investment products offering guaranteed payouts will ensure that people channelise their money into pension products. While the future generations of retirees are expected to be better off, a flexible transition to retirement will become the new norm as a majority of Indians plan to change the way they work — whether temporary or part-time — once they retire. A survey by Aegon found that

a lack of money to invest is a major impediment to saving for retirement, and a pay rise encourages most towards this goal. Though people use a range of financial instruments, such as FDs, life insurance, PF, gold and real estate, most respondents said they would prefer low-return, guaranteed pension over one that offered higher returns but was more uncertain.

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