Hungarians Unaware of Retirement Risks
Nearly two-thirds of Hungarian workers stop working before the official retirement age, 80% of them voluntarily, a GFK survey commissioned by French insurance group AXA found. Hungary came second in both these categories among the 26 countries surveyed.
Hungarians tend to be more pessimistic regarding their future retirement than the average European. Less than one-third of respondents had any idea of the amount of their pension entitlement.
Overall, people begin saving for pensions late, in their 50’s, which is in line with the low willingness to save and poor knowledge of financial instruments in Hungary. The financial living requirement for Hungarian pensioners was estimated at Ft 100,000, which is Ft 27,000 more than the average pension.
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retirement age, pessimistic, retirement, pension entitlement, savings, pensions, financial instruments, financial living requirement, Hungarian pensioners, Hungary, money
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[...] unknown wrote an interesting post today onHere’s a quick excerptNearly two-thirds of Hungarian workers stop working before the official retirement age, 80% of them voluntarily, a GFK survey commissioned by French insurance group AXA found. Hungary came second in both these categories among the 26 … [...]