We’ll be beggars upon retirement

opublikowano: 2007-02-27 12:39

Warsaw (Puls Biznesu) - An old man’s life will not be funny at all, contrary to the advertisement of one of the pension funds based on a popular song.

After 40 years of work he’ll have collected PLN 100,000 (EUR 25,700) in the second pillar of the insurance system. He’ll get only PLN 578. Experts of Lewiatan, the employers’ confederation, made the effort and calculated the future pension to be paid to those collecting their money in the second pillar. The results were terrible. If you earn the average salary, you may count on just over PLN 1,300. But beware! If you die a year after retiring, all your money will be taken by the pension fund.

(PLN 1 = EUR 0.257)