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We all die, for that little while
– approximately, this innervation is typical of Hungarians when it comes to long-term personal care. Almost everyone is aware that it would be important to do something so that the retirement years do not end in misery, but few and few save.
It is important, but not so much
According to K&H Biztosító research, 82 percent of Hungarians consider self-sufficiency to be important, yet most people think primarily of the state pension after busy years. Fifteen percent of those surveyed plan to do just that, and 42 percent think little of supplementing the state annuity with some savings. One fifth of those surveyed would also like to work during their retirement years, mainly for the money. About one in three respondents believe they will be able to live well during their retirement years, said Pálma Székely, director of life insurance and own sales channels at K&H Biztosító.
Those who have savings have not accumulated too much either. According to the research, respondents have accumulated an average of 1.8 million HUF so far, the accumulation of around half a million florins can be considered typical. Of course this is exactly 1.8 million HUF more than anything else, but by calculations
For a person to live the standard of living during the active years during the retirement years, it would take approximately 21 million HUF.
However, an important proposition is that it doesn’t matter how much of the active years is left. After all, this 1.8 million HUF savings means something different at age 30 and something different at age 50.
Considering a conservative interest rate environment, you can save HUF 21 million with thirty years of savings:
- for this thirty years about 35-40 thousand florins should be set aside every month, not in the mason jar, but in some savings;
- unless for twenty years we would save, then the amount to save is 65 thousand florins per month;
- and if only ten years If we did all this, we would have to save more than 150 thousand guilders every month.
While some are aware of this, 60 percent of those responding to the inquiry, in the current situation, regular and minor savings have been neglected. In particular, the issue of pensions has become secondary to those who have been negatively affected by the viral situation in some way.
2.5 million retirees will be harmed by the government, according to NYUSZET
The Orbán government is doing significant harm to retirees, two and a half million people, by approving a pension supplement of just 1.2 percent for November. This rate does not track inflation, nor does it come close to rising food prices, the Retired Union Conciliation Council said on Monday.
(Cover image: Our photo illustration! Photo: György Varga / MTI)
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