Among various financial goals, retirement planning is an important and essential.  In Indian demographic features, more percentage is of young age. After the number of years, it would shift from youth to more old aged population. With changing lifestyle and culture, Indian joint family concept is diminishing and now there are more nuclear families resulting in one having to be self – reliant in retirement period.  Very few organizations are providing the pension shelter to their employees. These factors are bringing out the significance of retirement planning in order to have a decent cash flow of income which helps in facing medical expenses, a good standard of living and other emergencies. The study is done in Mumbai area taking the sample size of around 80 respondents on random convenient basis but covering all age group, income and education level. The objective of research paper is to find out the awareness on pension schemes and retirement planning.

___________________________________________________________________________________

Keywords: Financial Planning, Retirement Planning, Pension Schemes, Medical Expenses, Pension Shelter.