The Issue of Responsibility for Financial Security in Old Age and Additional Retirement Saving
The Issue of Responsibility for Financial Security in Old Age and Additional Retirement Saving

Author(s): Sylwia Pieńkowska-Kamieniecka
Subject(s): Labor relations, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: responsibility; saving; retirement; old age;
Summary/Abstract: In connection with the lowering benefits from public pension systems responsibility for financial security in old age should become more individualized. People should take greater responsibility for future benefits and standard of living in old age. The objective of the article is to assess how perception of who should take care of financial security during old age impacts the decision regarding additional retirement saving. The article presents the data of the research conducted by the Social Insurance Institution in 2016 on a representative for the whole population of Poland sample of 1,030 people. The main conclusion which may be drawn from the research is that when individuals think that it is mainly the State's responsibility to care of retirement security, they save less for old age.

• Details
• Contents