Every fourth Ukrainian saves up for retirement – poll

Source : 112 Ukraine

Almost half of the country’s population claim they would be satisfied with a monthly pension of UAH 5,000.
15:34, 23 April 2018


A public opinion study carried out by the USAID-funded Financial Sector Transformation initiative in Ukraine, found that just 24% of the population are already saving for retirement, UNIAN reports.

Related: Ukraine to pay pensions in Donbas through Red Cross

More than half of respondents (57%) admit they are not currently in a position to save for the retirement. Nevertheless, 68% of respondents claimed they do not believe they would be able to live a decent life with the present retirement benefits.

Approximately 39% of people regard foreign currency savings for retirement as preferable, whereas 39% of respondents would rather stick to Ukraine’s national currency, the hryvnya.

What concerns the appropriate amount of retirement benefits, half or those who participated in the study would be satisfied with a pension of up to UAH 5,000 ($191) monthly. Another 36.5% of the people believe a pension of between UAH 5,000 and 10,000 ($191-$382) appropriate. Lastly, just 16% of Ukrainians consider a pension of not less than UAH 10,000 ($382) monthly sufficient for a decent standard of living.

Related: Private old age: What is the future of Ukraine's non-state pension funds?

As it was reported earlier Ukraine joined the last ten countries of the rating 'Best Countries for Comfortable Retirement' made by US News, Wharton Business School and BAV Group. Ukraine took the 72nd place out 80 represented in the list. It stays between Angola and Algeria. Poland took 32nd, Hungary – 39th, the Czech Republic – 37th, Romania – 50th, Turkey – 46th, Belarus – 66th place.

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