Problem świadomości finansowej w kontekście gromadzenia oszczędności emerytalnych
The problem of financial awareness in the context of gathering of retirement savings

Summary/Abstract: The outcomes of own research carried out in cooperation with IIBR between 27.02.2013 and 1.03.2013 among the Polish show that only 9% of them save money for their retirement. Among the people who have accumulated some savings the biggest number is constituted by those who are driven by a precautionary motive. The saving goal in this case is to be protected against unpredictable negative incidents which can influence the financial situation of a household. In this way the examined people satisfy the safety needs, which is the most important need and only after satisfying it the households will tend to satisfy other needs. The analysis of retirement system efficiency in the context of demographic situation, the amount of expected benefits provoke the thought on the necessity for additional retirement savings. The saving which is understood as postponing of consumption, often connected with the sense of giving up current pleasures, causes the sense of resignation. Facing inertia, myopia and loss aversion result in an inclination of individuals to concentrate on the costs connected with saving and to underestimate possible benefits. The complexity of retirement saving decisions, its long-term consequences hamper planning and accomplishing this task. The aim of this paper is to show the necessity of effective creation of financial awareness of the Polish referring to long-term personal finance management, including also the period after getting retired.

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