mumbai only a third in india are regularly saving for their retirement while just 33 per cent of workingage respondents globally are putting anything aside for their later life according to a reportthe lack of saving is likely linked to low knowledge of how much money is needed on retirement as well as many prioritising their immediate financial situation over planning for their older years according to hsbcs the future of retirement bridging the gap reportfor many retirement is thankfully no longer a short period tacked on to the end of our life it can be a long and very fulfilling part of a persons lifebut with that our needs at 65 can be very different from our needs at 75 or 85 with very different financial implications hsbc india head of retail banking and wealth management ramakrishnan s saidthe research for this report was carried out online by ipsos on behalf of hsbc among 16000 adults in 16 markets including australia argentina canada china malaysia mexico singapore taiwan france hong kong india indonesia turkey uae uk and usait revealed that only 19 per cent of working age people are saving for future nursing or care home fees this is despite half 51 per cent respondents claiming to be concerned about affording residential care when in retirement it addedmeanwhile the report found that over half of workingage people 56 per cent are living on a daytoday basis financially while a further 53 per cent only save for shortterm goalsalmost half 45 per cent also admit they prefer spending on enjoying today rather than saving for tomorrow it addedthe lack of saving may also be linked to many people not considering their older years as retirement at all with over twothirds of workingage people 69 per cent expecting to continue working to some extent and more than half 54 per cent hoping to start a business or new venture it saidwhen it comes to knowing the amount of money they will need in retirement almost twothirds 65 per cent of workingage respondents said they were aware of the cost of typical residential home feesalso the report revealed that this is leading a generally positive view of retirement across the globemost workingage people are looking forward to greater freedom away from the ninetofive 76 per cent taking up new hobbies and interests 72 per cent and getting fit 68 per cent it added