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Monday 16.07.2018 | Name days: Hermīne, Estere
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Survey: Latvians expect to have pensions under 200 LVL

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Latvian residents would like to receive pensions above 500 LVL during their retirement. Meanwhile, when asked to assess the real amount of pensions they can expect to receive from the state, residents most often mention amounts that vary from 100 to 200 LVL.

To the question of how big a pension they wish to receive from the state, women mentioned amount that do not exceed 300 LVL more often than men. More than one-fourth of women noted they wish to receive a pension that would be within 101 to 200 LVL. Men noted more often than women that they plan to receive pensions of more than 300 LVL but under 400 LVL, as the results of the survey carried out by SKDS and the Latvian Commercial Banks Association.

When speaking about the size of the pension respondents would feel confident with receiving, women noted they would like to receive 462 LVL on average. Men, on the other hand, would feel confident with 570 LVL.

In total, the minimum amount of pension respondents would feel confident with was 150 LVL, the maximum amount – 4 000 LVL.

Residents, age 25 to 34 and 35 to 44, would like to receive a pension of 560 LVL. Resident of older generation voiced more modest amounts: respondents age 45 to 54 would like to receive 481 LVL, respondents older than 55 – an average of 433 LVL.

According to the survey, Kurzeme residents want to receive the largest pensions on (645 LVL per month on average), the lowest – Vidzeme residents (458 LVL). On average, Riga residents want their pensions to be 514 LVL, Zemgale residents – 526 LVL and Latgale residents – 483 LVL.

“It should be noted that the survey results demonstrate quite a big gap between wishes of residents and what they would like to receive from the state. The ability of the current pension system is generally too weak to secure well-paid retirement for residents. This can be explained with the trust crisis towards the government, with the pension system being its product,” – SKDS Director Arnis Kaktins explained.

“Only 3% of residents are absolutely certain that the current pension system will secure their retirement. 51% of residents believe the current pension system cannot be trusted, that retirement should be secured without involving the government,” – Kaktins explained.

Ref: 102.109.109.4806


Leave a reply

  1. Petrov says:

    They are right the contributory scheme is about to collapse .There are 1.3 people in activity to pay one pension .So soon the governement wont be capable to maintain the systeme and everyone will be paid the same amount likely aroud 100 lats a month.

  2. Gad says:

    200 lats very optimistic

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