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About one-third of Russians regularly salt away funds for retirement — bank poll

Meanwhile, 30% of Russians surveyed say they are ready to participate in a new long-term savings program for citizens, which is to take effect on January 1, 2024

MOSCOW, August 3. /TASS/. About 30% of Russians are in the habit of accumulating funds for their personal retirement pots, while 26% do not yet put away such savings but intend to start, according to a poll conducted by Oktritie Bank and the Oktritie Private Pension Fund, the results of which were made available to TASS.

Sixteen percent of respondents have already been setting money aside for their future retirement for a period of three or more years. Another 13% have only just recently started filling their personal pension piggy banks within just the past one to two years. Overall, 29% of Russians surveyed by the poll report salting away money for their future retirement years, with this number reaching 38% in the Moscow Region. Overall, 26% of Russians are not yet putting away retirement savings but intend to do so. Meanwhile, 45% report setting aside no money at all for their sunset years, among which 26% lack the financial wherewithal to do so while 19% see no need for such savings.

Meanwhile, 30% of Russians surveyed say they are ready to participate in a new long-term savings program for citizens, which is to take effect on January 1, 2024, and under which the government will partially co-finance participants’ personal savings. Among survey respondents, 46% said they were not yet prepared to answer the question on their readiness to participate in the new program.

The poll was conducted from July 26 to August 1 among 1,560 Russians aged 18 to 65 across all macro-regions in cities with populations of over 100,000 inhabitants.

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