OP-Pohjola Group Survey: People should also personally prepare financially for years after retirement
(Thomson Reuters ONE) -
PRESS RELEASE
OP-Pohjola Group Survey:
People should also personally prepare financially for years after retirement
According to OP-Pohjola Group's Financial Literacy Survey, two-thirds of the
respondents say that everyone should also personally prepare financially for
their post-retirement years. Almost 80% of young respondents share this view.
Nearly half of the respondents are concerned about their financial standing
during retirement. Two respondents out of three think that people should begin
to save for retirement under a voluntary pension plan at the age of 40 years. Up
to 46% of the young respondents think that people should begin to save for
retirement under such a pension plan at the age of 20-29 years, i.e. in practice
from the very beginning of their career.
- The results suggest that people's attitudes towards how they can earn their
livelihood during retirement have undergone a change. The majority of the
respondents, especially the young ones, seem to accept the fact that people
should also personally prepare financially for maintaining their standard of
living during post-retirement years, states Economist Maarit Lindström.
It would seem that we will still have a long way to go to reach the goal of
making people stay longer in their jobs and retiring later. The respondents
think that able-bodied people should have the right to retire at the age of
around 62 years.
Weaker financial literacy
In the opinion of the respondents, news about financial and economic issues is
increasingly vaguer and understanding such issues has become more difficult.
This weakening trend has persisted since 2011 when the survey was conducted for
the first time. Making use of financial and economic information has become more
difficult and people follow economic and business news to a lesser extent.
- As the world and global economy are becoming more and more complicated, even
those who consider to be knowledgeable about economic and financial issues feel
that they have to struggle more than ever before to perceive the effects of the
general economic development on their personal finances and financial standing.
People tend to easily give up following economic and business news and issues if
it becomes awkward.
In particular, the way how actively young people follow economic and business
news has changed. There was a sharp dichotomy in this year's results: a larger
number of young people say that they follow economic and business news only on a
monthly basis as against on a weekly basis before, although every five
youngsters say that they now follow economic and business news on a daily basis.
Every other person thinks it pays to use a single financial services provider
Banks are still considered the most reliable providers of advice on personal
financial planning. People count on the professional skills of banks' experts
and are pleased to attend to their banking affairs by discussing with them. The
media were considered the second most important provider of advice.
- Every other Finn thinks that using a single provider of banking and insurance
services makes for a more convenient use of services and enhances the feeling of
managing personal finances. When banking and insurance services form a
comprehensive package, it will be easier for people to become convinced of a
solution that is suitable for their personal needs.
The OP-Pohjola Nyt (OP-Pohjola Now) magazine available in the afternoon will
deal more with the Financial Literacy Survey. The broadcast can be found at
op.fi/uutishuone.
Conducted by TNS Gallup and commissioned by OP-Pohjola Group, the Financial
Literacy Survey had 1,017 respondents across Finland, forming a representative
sample of active population at the age of 18-69 years. This was the third time
when the survey was conducted.
For more information, please contact: Maarit Lindström, Vice President and
Economist, OP-Pohjola Group Central Cooperative, tel. +358 (0)40 531 8262
OP-Pohjola Group is Finland's leading financial services group providing a
unique range of banking, investment and insurance services. The Group has the
mission of promoting the sustainable prosperity, well-being and security of its
owner-members, customers and operating regions through its local presence. Its
objective is to offer the best and most versatile package of loyal customer
benefits on the market. OP-Pohjola Group consists of some 200 member cooperative
banks and the Group's central institution, OP-Pohjola Group Central Cooperative,
with its subsidiaries and closely-related companies, the largest of which is the
listed company Pohjola Bank plc. With a staff of more than 13,000 OP-Pohjola
Group posted consolidated earnings of 601 million euros before tax in 2012 and
had total assets of 99.8 billion euros on 31 December 2012. The group has over
four million customers.
Appendix to the Financial Literacy Survey 2013 press release:
http://hugin.info/142911/R/1703236/562955.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pohjola Pankki Oyj via Thomson Reuters ONE
[HUG#1703236]
Unternehmensinformation / Kurzprofil:
Datum: 21.05.2013 - 09:10 Uhr
Sprache: Deutsch
News-ID 261798
Anzahl Zeichen: 6075
contact information:
Town:
POHJOLA
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 160 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"OP-Pohjola Group Survey: People should also personally prepare financially for years after retirement"
steht unter der journalistisch-redaktionellen Verantwortung von
Pohjola Pankki Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
