The past two years have not been easy financially for the residents of Lithuania: at first, inflation broke records and the resulting rising prices of goods and services, then household expenses were increased by rising interest rates. Pension asset managers notice that, at the same time, the future pension is taken more seriously: as many as 69 percent. of the country’s population agree this year that they need to start saving as early as possible, 12 percent. only 19 percent still think. disagree with that.
According to “Spinter research”, respondents who think this way increased by 8 percentage points in one year (in 2023, 61 percent of participants in a similar survey thought so).
Tadas Gudaitis, head of the Lithuanian Investment and Pension Funds Association (LIPFA), which initiated the population survey, says that over the past two years, the population’s financial behavior has been most clearly affected by economic circumstances.
“It can also be said that for a considerable part of society it was a kind of pension test. He showed how quickly life can become complicated when income does not keep up with expenses. In 2022, energy resources, food, and other goods and services became more expensive due to record inflation. Meanwhile, last year’s continued increase in interest rates hit people with long-term financial obligations the hardest, and they are usually the most active people in the labor market who receive regular income. As a result, we have an improved awareness that you should start saving for retirement as early as possible,” he says.
30% expressed full support for such a choice. survey participants, respondents with the highest education mostly thought so. Another 39 percent of those surveyed confirmed that they rather agree with such a necessity.
Only a fifth, or 19 percent, of those who hold the opposite opinion in the country. 10 percent of them rather, they do not agree to save for their pension earlier, and 9 percent – completely disagrees.
In total, approximately one-tenth (12%) of the respondents could not formulate their opinion more precisely on the question of whether they should start saving for pension as early as possible.
And every second (in 2024, 53%) residents of Lithuania say that they are saving for their pension in the second stage. On the other hand, only among the respondents of working age 18-64, there were 60 percent of such.
64% answered positively to the question about the ease of saving for a pension in Tier II. stage participants. Among them, 21 percent fully agreed with the ease of accumulation in this tier, 43 percent. – rather agreed.
28% were skeptical. hoarders: 16 percent rather, they disagreed with the simplest way to save for retirement, while 12 percent – did not agree at all. The remaining 8 percent Level II refused to evaluate.
“Overall, the attitude of the country’s residents towards the need to prepare for an important stage of their lives has softened. If the cost of living is rising and it depends on external circumstances that we can neither influence nor change, it is usually difficult to find a quick solution to increase income. I hope that more working people will make the decision to start saving for their pension without waiting too long”, states T. Gudaitis.
“Spinter research” surveyed 1,017 residents on February 18-25 this year. Respondents aged 18-75 took part in the survey.
Press release
#Survey #percent #Lithuanian #residents #save #retirement #early
– 2024-04-08 01:25:35
