As many as 79 per cent of respondents of a study carried out by the insurance firm said that having enough resources for taking care of elderly was a major concern, while 71 per cent of them named "running out of retirement money as a major issue."

"Yet only about one out of every three workers (35 per cent) said that they have taken steps to determine retirement needs and only 20 per cent say they have done actual planning for retirement," it said.

The MetLife study of 'International Employee Benefits Trends' surveyed employers and employees in four countries - India, Mexico, Australia, and the UK - that represent mature and emerging economies and differing workplace environments.

In India, the study surveyed 1,039 Indian employees and 523 Indian employers. In a sharp contrast from the other countries surveyed, one-third (33 per cent) of Indian employees say they never expect to retire, which may account for why so many have done so little retirement planning.

But the scene looks positive for those Indian workers who have planned for retirement with nearly six out of 10 (58 per cent) saying they have either achieved or are on track to achieving their retirement goals, ahead of the US workers where only 21 per cent said they are on track and only 5 per cent accept having achieved retirement goals.

Indian employers have not given much thought to this concern of employees, with most them offering few benefits besides life and health, the international survey said.

"The top benefits objectives of almost all India employers that provide benefits are to control employee health and welfare benefits costs and increase employee productivity," as per the survey.

The survey found that workers are extremely concerned about such financial worries as adequate health insurance (82 per cent) and having enough money to live on (80 per cent).

The international study reveals a disconnect between what benefits Indian employees say they need and want and the benefits Indian employers are prepared to offer now or in the future.

Rapid economic expansion and the growth of multinational companies in India with benefits programmes are increasing competition for the limited pool of highly skilled and better educated workers, MetLife International president William J Toppeta said.

With a variety of world-class companies operating extensively in India, workers are now more aware of how workplace benefits can help meet their health, protection and retirement needs. Companies that develop benefit programmes highly prized by employees will have more leverage in attracting and retaining the best talent in the increasingly competitive marketplace, Toppeta added.