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“The good news is that a significant number of younger accumulators in Tier II pension funds will have the opportunity to accumulate tens of thousands of euros. Still, although 30 or 50 thousand. At first glance, the amount of one billion euros seems impressive, it will be distributed over several decades after retirement, so its effect on monthly income may be less significant. Therefore, to ensure a decent income in old age, the people of the country must strive to accumulate as much money as possible, ”the report quotes Tadas Gudaitis, Director of Swedbank Investment Management.
In a population survey commissioned by this bank, 25 percent. respondents indicated that they would like to save between 26,000 and 50,000 in addition to the pension. worth EUR. At that time, 21 percent. declared that they would be satisfied with a smaller amount, 10-25 thousand. quantity. 19 percent. respondents named a larger one, 51-100 thousand. worth EUR.
According to the survey, more than 100 thousand. I would like to accumulate 9% in the pension fund. population. This response was mentioned more frequently by higher income respondents and metropolitan residents.
According to T. Gudaitis, there are 100,000. An amount of 1 million euros or more would provide a sufficient income supplement in addition to the pension paid by the state, and would allow the population of the country to meet most of their needs in old age and retirement age.
100,000 have accumulated before retirement. The amount of euros has been accumulating steadily for at least several decades, which should be a target for a significant part of the country’s population, notes the bank’s representative.
According to the future pension calculator provided by Sodra, a 30-year-old resident of the country, who receives an average salary of 900 euros after taxes and accumulates 3 + 1.5% in the second pillar of pensions, should have accumulated about 130 thousand for old age. euros. These funds will ensure a supplement to the state pension of about 500 euros upon retirement, ”says T. Gudaitis.
After accumulating more than 60 thousand in the second pension pillar. EUR, the participant of the pension for 60 thousand. You will have to buy an annuity. The remaining amount, which will exceed 60 thousand. You will receive it as a lump sum immediately and can use it for your needs or those of your family, set aside to save or continue investing.
“Accumulation in the second pillar of pensions is especially beneficial for the country’s lower-middle income recipients, as each month a relatively larger incentive is transferred to their pension fund account from the state budget, which is calculated from the average salary in the country. This will allow to achieve a better accumulation effect and accumulate more funds in a longer period of time, “says T. Gudaitis.
At that time, the country’s high-income people should consider an additional form of savings in addition to the second pillar of pensions, if they want to maintain a similar standard of living in retirement as when they work. This would require, for example, 5-10% accumulating their income in the third pillar of pensions or investing in order to accumulate financial assets that could be used in old age.
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