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Survey : Two out of three Romanians do not save regularly

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Only 34% of the Romanians save regularly a part of the income, according to a survey made by ISRA Center at the end of 2019 for the Association for Privately Managed Pensions of Romania (APAPR). A similar survey, made in 2018 by the same company, showed that 45% of the people saved regularly from the income. ‘Despite the increase of recent salaries, fewer Romanians manage to save’ the author of the research say. The survey was made between 23 October – 18 November 2019 on 1,147 active people, aged between 20-35 and with monthly income of over 2,500 lei.

Similarly, approximately 60% of the interviewees stated that they cannot save anything, while for the survey of 2018 there was a percentage of 51% in this situation. As regards the opinions regarding the public pension, almost 50% of the interviewees said in 2019 that they rely on the state pension, while in 2018 the share was 56%.

‘Trust in public pensions as basic income at retirement is dropping’ the authors of the study say, when referring to this attitude of the interviewees against the public pensions system.

Similarly, 53% of the interviewees consider that the state pensions system is unsure, as the number of those who contribute is dropping, and 50% think that at present the government gets loans to pay the state pensions.

The result of the survey shows that 83% of the interviewees have no savings for the period of retirement. Moreover, 75% of the interviewees considered in 2019 that Pillar 2 for pensions must be kept upgoing by 4% against the percentage that answered similarly in 2018.

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