Checklist: Don't just assume you are saving enough for retirement

Calculate methodically how much you will need, then save regularly for it using a diversified portfolio

The sixth annual Aegon Retirement Readiness Survey puts India at the very top in terms of retirement preparedness among the 15 countries surveyed. In the online survey that covered 900 workers and 100 retirees, India scored 7.6 on the Aegon Retirement Readiness Index (ARRI), well above the global average of 5.9. Financial planners and wealth managers, however, say that there is a lot of scope for improvement in Indians' retirement preparedness.

While many savers think they are ready for retirement, a look at their actual numbers reveals that their savings are inadequate. Says Somnath Mukherjee, managing partner and head-products, investment