Issue Details

A STUDY OF RETIREMENT PLANNING BEHAVIOUR OF INDIVIDUALS

ABSTRACT

Retirement planning is very important for any individual. It is crucial stage of life when no one has regular source of income. Enough cash inflow is required to maintain the living standard in retirement phase. Retirement planning provides the regular cash inflow which facilitate in survival of living and maintain the standard of living. As per the previous studies in this area showed that “government provides the various social security programs like National Social Assistance Programme (NSAP) and Atal Pension Yojana (APY) and with the purpose to provide the health care service to the informal sector, Atal Pension Yojana (APY) also implemented” (Asher et. al., 2015). Some other contributory or self-acquired retirement security avenues are also available such as real estate, bank deposits, post office deposits, investment in gold, investment in pension plans, public provident fund, and investment in insurance. “Investment in real estate is the most preferable investment avenue followed by fixed deposits and after that National Pension Scheme” (Vasudeva, 2021). All this aspect conclude that retirement planning is important for everyone and should do at early stage of life with the consideration of all the parameters of financial terms related to investment. Government should also plan to implement appropriate investment avenues according to demographical profile of investors. Financial awareness programmes should also be organized by the government to make aware the people about financial terms and they make investors able to take better decision to save their old age.

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