●
Only 33% of Empty Nesters expect Retirement
Corpus to last a decade
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71% Sandwich Generation respondents admit to a
deep-seated fear of loneliness
New Delhi, January 27, 2026 : Axis Max Life Insurance Limited
(“Axis Max Life” / “Company”), formerly known as Max Life Insurance Company
Limited, has released cohort-level findings of the Sandwich Generation and
Empty Nesters as part of the fifth edition of its flagship India Retirement
Index Study (IRIS) conducted in partnership with Kantar, a leading global
marketing data and analytics company.
Today, as the traditional Indian joint family structure shifts toward
nuclear families and urban migration, the study highlights two key groups
shaping the country’s changing retirement mindset: the Sandwich Generation,
which supports both aging parents and dependent children, and Empty Nesters,
parents living independently after their children have moved out. With an overall national India Retirement
Index score of 48, the IRIS study reveals a critical gap in long-term security:
only 33% of Empty Nesters and 38% of the Sandwich Generation believe that their
savings will last more than 10 years post-retirement.
Sumit Madan, Managing Director and CEO, Axis Max Life said, “The
Sandwich Generation and Empty Nesters reflect two distinct, yet interconnected
realities of India’s demographic transition. While one is balancing the
immediacy of multi-generational responsibilities, the other is planning for a
future defined by independence and self-reliance. At Axis Max Life, our focus
is on closing the gap between awareness and true preparedness. Retirement
planning must move beyond accumulation to address longevity, dignity, and
emotional security ensuring individuals can age with confidence, autonomy, and
peace of mind.”
Key Insights
Empty Nesters: Hindsight-Led Discipline Amid Longevity Concerns
Empty
Nesters, as a cohort that’s already at the cusp of retirement, exhibit a
‘better late than never’ approach towards building their investment for
retirement.
Financial Precision & Investment Discipline
●
Investment Proactivity: 71% have already
started their retirement investment journey, surpassing the national average of
67% marginally.
●
High Financial Awareness: 86% of this cohort
knows the exact corpus required to maintain their post-retirement lifestyle.
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Strategic Asset Shift: While 61% rely on
traditional fixed and recurring deposits, 44% now invest in mutual funds or
SIPs, significantly higher than the national average of 32%.
●
Planning Mindset: Only 18% believe that
retirement planning should be deferred until all other life responsibilities
are completed.
Health Realism & Longevity Concerns
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Health Engagement: 55% undergo regular or
occasional health check-ups, while 52% are covered by health insurance, both in
line with national levels.
●
The Fitness Gap: Daily physical activity
trails slightly behind the national benchmark, with 40% exercising daily
compared to the 43% all-India average.
●
Management Style: This group is
"treatment-led," with 32% following strict medical advice or
medication routines, alongside a 30% focus on self-care.
●
Muted Health Confidence: Reflecting concerns
over aging, only 72% believe they will remain fit during retirement, notably
lower than the national average of 79%.
The Emotional Void & Familial Support
●
Isolation Anxieties: Three in four (75%)
express a fear of loneliness in their retirement years, exceeding the national
average of 71% slightly.
●
Dependency & Environment: Concerns
regarding financial dependence on children (73%) and the impact of
environmental shifts (80%) on a peaceful retired life remain high and
consistent with national trends.
●
Family as an Anchor: Despite these anxieties,
55% feel totally secure about receiving support from their family during
retirement, mirroring the national sentiment.
The Sandwich Generation: The High-Stakes Balancing Act
Caught in a mid-life race, this cohort holds a slightly higher
Retirement Index of 49, driven by a dual burden of responsibility.
Financial Planning & Investment Drivers
●
Investment Readiness: 67% have already begun
their retirement savings journey.
●
Key Influencers: The primary triggers for
retirement investing are family recommendations (50%) and a growing awareness
of life’s unpredictability (38%).
●
Protection Leaders: This cohort is marginally
ahead of the nation in life insurance ownership at 78%.
●
The Traditional Safety Net: Reliance on legacy
structures remains high among those who have not started investing towards
retirement, with 40% expecting children to care for them and 37% relying on
inherited wealth.
Holistic Health & Risk Management
●
Health Optimism: 79% believe they will remain
fit and healthy during their retirement years.
●
Proactive Wellness: 38% are inclined toward
self-healthcare, while 45% engage in daily exercise (surpassing the national
benchmark of 43% slightly).
●
Medical Security: Health insurance coverage
stands at 52%, placing them marginally ahead of the all-India average of 50%.
The Emotional & Dependency Paradox
●
Familial Trust: 55% feel totally secure about
receiving support from their family in the future.
●
Loneliness & Aging Fears: Despite familial
trust, 71% fear loneliness in retirement.
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The Burden Factor: Around 76% worry about
becoming financially dependent on their children during their retirement.
●
The Independence Conflict: Their emotional
landscape is defined by a "dependency paradox", a deep trust in
family anchors balanced against a modern desire for dignity and independence.
Notes to the Editor
Sandwich Generation refers to the middle-aged
demographic who are "sandwiched" between the obligation of caring for
their aging parent(s) while supporting their own dependent children simultaneously
while Empty Nesters are those parents whose children have grown up and moved
out of the family home to pursue careers or education, leaving the parents
behind to live on their own.
Axis Max Life’s India Retirement Index Study
(IRIS) continues to serve as a vital survey for urban India, measuring
readiness across Financial, Health, and Emotional pillars. By highlighting the
nuances of these cohorts, IRIS provides the roadmap necessary for Indians to
move from "investment participation" to "long-term financial
security."
Read more about the India Retirement Index Study at - IRIS 5.0
About India Retirement Index Study
India Retirement Index Study is an annual retirement study by Axis Max
Life conducted in partnership with KANTAR. The study evaluates India’s
readiness for a healthy, peaceful, and financially secure retirement across
three indices Financial, Health, and Emotional Preparedness each measured on a
scale of 0 to 100. The fifth edition surveyed 2,242 respondents across 28
cities, including new segments such as gig workers.
About Axis Max Life Insurance Limited (https://www.axismaxlife.com)
Axis Max Life Insurance Limited, formerly known as Max Life Insurance
Company Limited, is a joint venture between Max Financial Services Limited
(“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive
protection and long-term savings life insurance solutions through its
multi-channel distribution, including agency and third-party distribution
partners. It has built its operations over two decades through a need-based
sales process, a customer-centric approach to engagement and service delivery
and trained human capital. As per annual audited financials for FY2024-25, Axis
Max Life Insurance has achieved a gross written premium of INR 33,223 Cr.
IRDAI Registration. No – 104
Company Information Number - U74899PB2000PLC045626
About Kantar
Kantar is the world’s leading marketing data and analytics business
and an indispensable brand partner to the world’s top companies. We combine the
most meaningful attitudinal and behavioural data with deep expertise and
advanced analytics to uncover how people think and act. We help clients
understand what has happened and why and how to shape the marketing strategies
that shape their future. To know more, visit www.kantar.com