Working women more prepared for retirement, but fear of loneliness rises: Axis Max Life Study

Working women in urban India are becoming more prepared for retirement, with improvements seen in financial and health readiness, but emotional concerns — especially fear of loneliness — continue to remain high, according to the latest India Retirement Index Study released by Axis Max Life Insurance ahead of International Women’s Day.

The fifth edition of the India Retirement Index Study (IRIS 5.0) shows that the retirement preparedness score for women rose to 49 in 2025 from 44 in 2022, slightly higher than the national average score of 48. The study evaluates retirement readiness across three parameters — financial, health and emotional preparedness — on a scale of 0 to 100.

The findings suggest that while women are making steady progress in planning for their later years, the improvement is uneven across different aspects of preparedness.

Health awareness among women has shown a noticeable rise. The Health Preparedness Index increased to 47 in 2025 from 40 in 2022, marginally outperforming the national growth rate. More women are adopting preventive healthcare habits, with the proportion undergoing regular or occasional health check-ups rising to 60% in 2025 from 57% in 2022, higher than the all-India average.

Confidence about staying healthy during retirement has also improved, with 82% of women saying they expect to remain fit in their later years, up from 79% earlier.

However, emotional preparedness has weakened despite these gains. The Emotional Preparedness Index for women declined to 58 from 60, indicating growing psychological concerns about life after retirement. The study found that the fear of loneliness has increased sharply among women, rising to 74% from 69%, even as the all-India level remained largely unchanged.

Concerns about financial security also remain strong. About 73% of women said they worry about being financially dependent on their children during retirement, highlighting the continued importance of personal savings and insurance coverage.

Formal risk protection is improving but still evolving. Health insurance adoption among women rose to 48% in 2025 from 42% in 2022, although the pace of increase remains slightly slower than the national average.

At the same time, a gradual improvement has been seen in perceptions of family support. The share of women who feel secure about receiving support from family members during retirement increased to 53% from 49%, reflecting a modest rise in confidence about social backing in later years.

Axis Max Life said the findings show that retirement planning is no longer limited to financial savings alone, with health and emotional well-being becoming equally important for long-term security.

The study, conducted in partnership with Kantar across 28 cities, indicates that while working women are taking more active steps toward retirement preparedness, emotional resilience and financial independence remain key areas that need greater focus in the coming years.