Sixty percent of Poles not saving for retirement

The research suggests that three quarters of Poles believe that it is worth supplementing their pensions with savings, but only 40 percent are actively doing so.

The most commonly voiced reason for not saving is a lack of funds to do so. Some 57 percent of respondents claimed that they simply did not have funds available to put into retirement savings.

Meanwhile, a third of those surveyed in the poll by the Homo Homini institute acknowledged that they had not even begun to think about retirement savings, as the prospect of becoming a pensioner was still a distant one.

In May, parliament passed a controversial bill that raised the national age of retirement to 67 for both sexes.

The official retirement age had been 65 for men and 60 for women.

According to the new legislation, the retirement age will be raised to 67 gradually, by 2020 for men and by 2040 for women.. (pg/nh)