Women live longer, and at the same time earn less (satistically) - so they should save money for future retirement, but usually they do not o it. In Poland, only about 6% of employees save extra money for retirement. What it comes from? How to change it?
Peterson K Ozili -- Thank you for your comments, especially about institutions :)
although I would like notice that in Poland during 10 years an average gross income per capita has increased three times, now it is ca. 950 eur, and economical situation of Poles is much batter - so, don`t you think that it is time for savings?
Besides, I do not believe that anybody thinks "I will not save money, because I will die soon" :)
Okay. My suggestion may not be the right answer. I know much about the state of affairs in Europe but I really don't know much about Poland, that's why I used the term "for instance".
Can you tell us what you think is the cause of this delay, per your question above?
The idea that some people don't want to save money for the future because they are unsure if they will live long enough to get back their retirement fund, is widely established as a stylised fact in the pension economics literature as a reason why "saving for retirement" should be voluntary, not compulsory, for employees. That's what I was trying to say initially.
It's okay if this is not believed to the case in Poland, due to country-specific differences.
Thank you very much for this suggestion - yes, you are right that length of life and beliefs of people are important. We think that procrastination in Poland results from the fact that we spend 50% of our income on food, and the next 25% for necessary daily expenses, such as water, electricity, etc., and there is simply nothing to save, so costs of life play a major role (but it's been changing lately, as I mentioned); but next immediately there is very little knowledge about how to save, so financial education is a problem in my country.
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