Finanse gospodarstw domowych emerytów
Finance of Households of Retirees

Summary/Abstract: The aim of the study is to analyze the sources of Polish retirees’ income and the structure of their expenditure, including the propensity to consume and to save regarding the life cycle hypothesis. In the empirical research mainly data from households’ budgets survey for the years 2007-2013 and the national accounts by institutional sectors and sub-sectors for the years 2000-2013 is used. Retirees’ income (per equivalent unit) and expenditure on consumer goods and services are lower than other socio-economic groups’, but their propensity to consume is relatively high. Moreover, in the years 2000-2013 (especially to 2008) a systematic increase in their propensity to consume is observed. Incomes of retirees grew slower than revenues in the Polish economy. Simultaneously, an increasing part of their income were social benefits. This means their increasing dependence on the social security system, which poses a real threat to the financial security of retirees, especially in the future, when an increasing number of them will receive a retirement payments accrued on the new rules. These findings should encourage everyone to increase the propensity to voluntarily save for retirement.

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