Retirement confidence for successful ageing in context of the changing socio economic dimensions in India

Retirement is the phase of life when an individual withdraws from the workforce and no longer works in one's primary career role. Self-sufficiency in terms of wealth and happiness sums up the success during retirement. Building confidence for retirement is a long-term process requiring rightly perceiving one's retirement days, planning for them, and putting the timely implementation of plans.

Through extensive review, the paper builds a conceptual framework to understand and analyze retirement confidence in the changing socio-economic contexts. The framework proposes to analyze the mediating effect of retirement planning to gauge if the perceived confidence is reflective of the preparedness or just a reflection of individual's psychology, attitude, and behavior.

Not just retirement planning but other social (family dynamics, migration of young, health history), economic (interest rates, inflation, economic shocks), psychological (perception about retirement), demographic (number of dependents, marital status, education) and behavioral factors (personal control, risk aversion) determine the perceived self-confidence of individuals for their retirement.

The paper will put into perspective the current body of research in the field, help identify research gaps and provide opportunities for further research.