From the beginning of 2019, the formula for adjusting pension and pension insurance will come into force, which will enable the average earner to accumulate about 200 thousand personally in full-time for the pension in the second pillar fund. Euro These theoretical calculations within the framework of the new model of accumulation were carried out by the Association of Investment and Pension Funds (LIPFA).
The amount of expected savings is calculated by modeling the situation so that from the age of 25 and immediately to the maximum of the second phase, the savings of the young person who initiated the pension, together with the state incentives, will be invested in accordance with the life cycle fund model. LIPFA's calculations are based on the assumption that a permanent population pays a tax of EUR 1,000, and the retirement age will come when an employee reaches 65 years of age. During the accumulation period, it is estimated that the annual salary growth will be 3.5-5 percent per year.
It is assumed that 200 thousand are accumulated. In the future, a person will be able to buy goods and services as it is now available for 91 thousand euros. euro
"The state social security system guarantees an old-age pension, but it is not a secret that in most cases it is difficult enough for basic needs, and therefore we have estimated what savings a 1,000-euro resident can expect on paper. Currently inactive workers from 2019 have the opportunity to enter the second phase and start saving on retirement. After going to the labor market, this will be the real source of additional income, "said President of the LLP, Sarunas Ruzgis.
According to him, 3% of the person who defers the beach, together with 1.5% of state incentives in 2070, should accumulate about 201 thousand. euro Specific savings may vary depending on the rate of accumulation and macroeconomic conditions.
Currently, in the second phase, 1.3 million or even 9 out of 10 officially employees are retired. According to Š. The ominous, rapid aging of the population and the emigration will only strengthen new demographic challenges, which will be increasingly difficult for the state to react to itself.
"It's never too late to start saving. From the tax reform for the next year, almost all batteries will be able to cover part or all of the inputs at level II and will not reduce their revenues," – says Sh. Crucifixion
When collecting a Phase II pension and allocating a maximum of 3 percent of the salary, the state allocates 1.5 percent of the contribution from the average salary of the state. The funds of the future pensioner have been invested, with an increase in the proportion of conservative investments.
When a person withdraws from the labor market and becomes an old age pensioner, the biggest shock is the fact that monthly income decreases dramatically, they have to re-select their priorities and learn how to add lower income. According to experts, after 20 years, then pensioners could be forced to survive five times lower incomes, as the state will be able to provide only 23%. current pension.
In the second quarter of this year, the average wage in the state tax amounted to 918.8 euros, and the average age pension for the state amounted to 337 euros.