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Poles not saving enough for old age

PR dla Zagranicy
Jo Harper 07.09.2015 11:25
Poles still do not save enough for their retirement, at a level of 20-40 percent of their salaries.

Half of those surveyed said they are only waiting for the minimum pension.

A recent study by ING show that up to 75 percent of Poles do not save for their retirement, although the vast majority of them expect their standard of living in old age to get worse and give the most common reason for this as lack of available funds (42 percent).

Every fifth Pole says there is no need to save for retirement, according to the research.

According to a report by the Office of the President, pensions may amount to only 20 percent of the last salary. Other calculations indicate levels of 30 or up to 40 percent.

Today’s pensioners get the first retirement pension in a range of 55-60 percent of their final salary. (jh)

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