Inflation is racing, prices are rising, and the pandemic reality means that many Poles have nothing to save for their own retirement. However, it is worth recalling that in 30 years, seniors will have to live on 1/3 of their current income – the replacement rate in 2050 will be at the level of 29.5%, and cash benefits from the state fund will not be sufficient for basic needs. Saving for the fall of life is no longer a whim of the wealthy, but a first-necessity decision.
It is better not to postpone this problem – there will always be more urgent things, because it is related to the present day, but this is the key one. We will retire for a dozen, if not several dozen years. Our income will shrink during this time and our needs (health) will increase.
We will have as many pensions as will be calculated on the day of transition to it – indexations almost never compensate for the price increase. The closer we get to retirement age, the greater will be the need to put aside more money – and this is never easy. Meanwhile, if it starts early, even PLN 100 a month will build huge capital for the autumn of life.
Inflation is racing, prices are rising, and the pandemic reality means that many Poles have nothing to save for their own retirement. However, it is worth recalling that in 30 years, seniors will have to live on 1/3 of their current income – the replacement rate in 2050 will be at the level of 29.5%, and cash benefits from the state fund will not be sufficient for basic needs.
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After retirement, it will be a good solution to look for additional sources of income in retirement (such as a reverse mortgage, as long as we “save” now by paying off capital installments of the mortgage) or use the money that we have previously set aside – and so now – e.g. in IKE or IKZE. The problem is that the number of “puters” is still residual and awareness is low.
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In order to be able to pay yourself an additional PLN 3,000 a month until your retirement pension, you need to put aside approx. PLN 640,000. zloty
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At the end of 2020, the average pension was 42.4%. last salary, but this proportion will change over the years. In 2050, the replacement rate will be 29.5%. and in 2070 only 23.5 percent. This means that future retirees will have to live on a third or a quarter of their current income. Already today, seniors are one of the most indebted social groups, and their wallets are “thinning” more and more, inter alia, because of galloping inflation.
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– Pensioners who did not take care of the so-called They usually live very modestly. They spend the largest part of their budget on fees for utilities and drugs. The year 2022 brought further increases, not only in food, electricity and gas, but also in other costs related to, for example, property maintenance. In 2021, we conducted an opinion poll in which over 1,000 seniors took part. As much as 91 percent. of them complained that their financial situation had worsened in 2021. It was these people who claimed that they felt the price increases acutely, especially for basic necessities – says Robert Majkowski, President of the Mortgage Fund DOM. – Still few people of working age are aware of the need to save money for their retirement.
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