According to the latest data from the Social Insurance Institution (ZUS), there were nearly 6.27 million retirees in Poland as of May 2024. While this is a significant portion of the population, many Poles don’t even consider that they might one day be part of this group. The "Study on Retirement Awareness and Attitudes Toward the Pension System Among Poles Under 30 - 2024 Edition" showed that one in four respondents (24 proc.) had never thought about retirement or had only thought about it once or twice in their lives.
Young People Don’t Think About Retirement
Only one in seven (15%) regularly reflects on their future life in retirement and their expected financial situation at least once a month. Just one in five considers how to secure their financial future for retirement. Those who had thought about it were asked what triggered such thoughts.
Respondents cited various reasons, including financial difficulties (loss of income, unsatisfactory working conditions, etc.), as well as the death of a parent. Sometimes, conversations with grandparents or media reports about pension indexation also sparked these thoughts. Despite these triggers, young people's knowledge about pensions remains minimal.
Knowledge About Pensions Among Young People Is Very Limited
Over half (57%) rate their knowledge of the pension system as basic. Only about 10% consider themselves to have advanced knowledge in this area, while a striking 14% admit to having no knowledge at all. When it comes to saving and investment options related to retirement, most young people are familiar with Employee Capital Plans (PPK).
52% of respondents don’t actively seek information about the pension system or retirement instruments, and they accept what they hear or read without verifying or deepening their understanding. This is a high percentage of people forming their beliefs and shaping their current and future behavior based on random information, not always from reliable sources
- says Dr. Katarzyna Sekścińska, the study's author.
The study was conducted between May 6, 2024, and May 20, 2024, using the CAWI methodology on a sample of 1,007 adults in Poland aged 18-30 (average age 25). The sample was nationally representative, with 49.2% women, 50.3% men, and 0.5% identifying as non-binary.
