Poles not saving enough
PR dla Zagranicy
Peter Gentle
22.10.2014 15:53
An annual publication by the Kronenberg Foundation has found that only one in eight Poles save regularly, while insufficient amounts of money are being put aside for pensions.
photo - sxc.hu
The data came in the 7th edition of the annual “The attitudes of Poles towards saving” research publication.
Krzysztof Kaczmar, President of the Kronenberg Foundation, told Polish Radio that “Only 12% of people save regularly. This is little. But on the positive side for the first time in 7 years, since the start of our research, the amount of people saving has exceeded 10% of Poles.”
The research also showed that three quarters of Poles now think it is worth saving, significantly up from 61% last year. In particular women are more likely to save, while men are more prone to ‘impulse buying.’
However the data had worrying implications about pensions, as only 16% of Polish adults admitted to having saved specifically for them. Of those that did the majority saved in the region of 100-500 zlotys a month (24 to 120 Euro).
In addition Poles are financially cautious, with only a tenth of adults making investments. Explaining the results, Kaczmar said “there is still a large proportion of the population which does not trust financial institutions.”
The data comes less than a month after the National Bank sharply cut the benchmark interest rate, which is expected to lower returns on private savings as a result. (sl)
Source: IAR