Sverdlovsk Region: 88% of Would-be Retirees Unhappy with Pension Savings

17 January 2020 (09:11)

UrBC, Yekaterinburg, January 17, 2020. 87.5% of Sverdlovsk Region’s residents in the 50+ age group feel very skeptical about a comfortable retirement, Sberbank Non-State Retirement Fund’s research findings indicate.

Nearly a third of those surveyed (28%) said they wished they had saved up for their retirement. It’s worth noting that 14% of locals are unhappy about their retirement savings, which is the largest percentage in the country. According to Sberbank Non-State Retirement Fund, the share of Russians who did save up for retirement came to under 14% in the last twenty years. Quite a few of them regretted the decision. The share of respondents voicing their regrets is currently the highest in the Far East (29.7%); these are mostly people whose monthly income comes to RUB 35,000 or less.

Head of Sberbank Non-State Retirement Fund Alexander Zaretsky says it’s important to get into the habit of setting a small portion of your income aside in the form of savings early on, just like it happens in other countries.

Based on the findings of the research Sberbank Non-State Retirement Fund carried out in the summer, most locals need at least RUB 45,000 a month to live comfortably in retirement.

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