This study is carried out to know the awareness about retirement planning among the individuals of Mumbai suburban city. A total of 78 individuals participated in this study. The objective of this paper is to analyze the literacy level and the factors affecting retirement planning of individuals. The paper also highlights the retirement plan preference of different individuals and impact of digitalization on creating awareness about retirement planning. The results show that there is a difference in the level of awareness according to different age groups. Using survey methodology, we analyzed various factors and pension scheme awareness among individuals