15 Jan 2011
RETIRE EARLY? NO WAY!
That is what Indians seem to be saying.
French insurer Axa Life Insurance asked workers in many countries, what
should be the ideal retirement age. Here are some answers:
·
India ……………61
years (from current 58 years)
·
Hong Kong/Indonesia … 55
years
·
China ……………………… 54
years
Apparently, residents of Hong Kong seem to be most assured about their
post-retirement income, with 55 % of them availing of early retirement and a
mere 17 % working till normal retirement age!
Compare this with 70 % of the Indians, who continue to work till their
normal retirement age.
And that applies to only 10 % of the 460 million Indians who work in the
“organized sector“.
Balance 90 % of Indian workers don’t even know the concept of “retirement
“! Happily or unhappily, they start working as a 5 year old child and continue
till grave!
Hemen Parekh