India: A Pensioners’ Paradise?

As a young man, I lived in the U.S for nearly six years, and in many ways, Canada, where I am living currently, is not very different. There is a lot to be said for living in a “developed” country (I always found that term a little strange, but that is the term that is most frequently used to describe economically advanced countries). However, there is one aspect of living in “developed” countries that I find sad. That is the condition of the elderly.

There are few sights sadder than watching a lone old man or woman here in winter, struggling to wheel a loaded shopping trolley across a huge parking lot in sub-zero temperatures. Old people here are often lonely, with nobody to look after them or even have a conversation with. Living in “developed” countries is great as long as one is working and fit. Once a person becomes old, children more often than not move away and do not keep in touch with their parents often (I realize that this is increasingly the trend in urban, middle-class India as well). Older middle-class people in the U.S, Canada and elsewhere are often forced to live all alone in difficult conditions. Unless one is rich, one has to do everything oneself, and there are no maids, chauffeurs and other domestic help available. Again, this is fine when one is fit and healthy, but when a person gets old, this can become a problem. The lack of a support system is a real issue for the elderly in Western countries.

This is why I think India (or parts of the country anyway) would be a great pensioners’ paradise for older folks from Western nations. If I was about to retire, what would be the factors I would take into account when deciding on a place to settle down? In my mind, the factors to consider while choosing a location to retire in would be:

1. A secure, stable place with a low crime rate and high levels of political stability
2. Plenty of sunshine and mild, warm temperatures. Cold weather has greater adverse affects on older people
3. A place where the cost of living is low, and my retirement savings will allow me to have a comfortable life
4. A pleasant, quiet, scenic location surrounded by nature
5. The availability of good, inexpensive medical care
6. The availability of domestic help such as maids, chauffeurs, etc.
7. Good public transport
8. Good infrastructure in terms of uninterrupted water, electricity and civic services
9. A place where the English language is widely spoken and understood.

Many parts of India score high on most of the factors listed above, except for Point # 8 (good infrastructure in terms of uninterrupted water, electricity and civic services). Erratic electricity supply is a major stumbling block to our country’s growth.

However, there are many parts of India that meet most of the criteria I have listed above. Goa, Kerala, Uttarakhand and Himachal Pradesh come to mind. All of these places are very desirable places to live in.

Let me give you a personal anecdote. I used to know an old American guy who lived in the town of Almora, in the Indian Himalayan state of Uttarakhand. He was in his seventies when I met him, and divorced. He had worked in the U.S. financial services industry all his life, and had a Masters’ in Business Administration degree from Yale University. His daughter was married and lived in the U.S. They were not in touch often. Once I got to know him better, I asked him what made him come to a small Himalayan town to retire. He told me that the only other choice he had was to die in an old age home in New Jersey. He was alone, and felt that he still had a lot left to offer. He also had an interest in Buddhism. So he decided to chuck his life in the U.S., and move to Almora. He enjoyed life. He was an avid trekker. His dollar denominated retirement pension allowed him to have a very good standard of life in India. He died last year, and I am sure he never regretted his decision to move to India after retirement. He had ten years of an active, enjoyable life in Almora before he died in a hospital in Delhi.

In Europe, Spain is a very popular retirement destination for many people from the United Kingdom. It is cheaper to live in than Britain, and has much better weather. The Spanish government actively promotes Spain as a retirement destination, since British retirees bring in plenty of foreign exchange. Retirees, unlike immigrants, do not compete with locals for jobs, and you very rarely hear of seventy year old burglars or serial killers. These British retirees also create thousands of jobs in Spain, since they need locally based maids, drivers, doctors, nurses, financial advisors, real estate agents etc. Spain has many towns and “gated communities” that are full of British retirees.

There is no reason that parts of India cannot become a pensioners’ paradise. The places I mentioned above (Goa, Kerala, Uttarakhand and Himachal Pradesh) have great, mild, weather, are very scenic, safe and it is reasonably easy to get domestic help. These states also have reasonably large local English speaking populations. Medical facilities in these states are decent, and cities such as Mumbai and Delhi are easily accessible and less than two hours away by air. Most importantly, a pension of fifteen hundred pounds a month goes much further in Goa than it does in Britain.

If the Indian government actively promoted “pensioners’ tourism”, it would help in bring in law-abiding, prosperous retirees by the thousands, as well as millions of dollars and pounds in foreign exchange, apart from creating thousands of jobs. There would be a role for the private sector in providing hospitality and elder-care services. Of course, the government would have to do its bit in creating better quality infrastructure, specifically roads, water and electricity.

These are my opinions. What do you think?