The overwhelming majority of Portuguese consumers (81%) are doing nothing to ensure a smooth retirement, concludes a Cetelem study on Financial Literacy, which this year expands the parameters under analysis and seeks to know if the Portuguese are, in any way, prepare the reform.
The same study examines how they save consumers who claim to be preparing to leave active life. Among the different alternatives, the term account is the one that gathers the most supporters (9%), followed by the PPR (Reform Savings Plan), which conquer 3% of the Portuguese.
The percentage of respondents who invest in banking products, such as shares and bonds (1%), and the traditional piggy bank (0,4%), is practically residual.
“Everyone envisions a smooth retirement after long years of work, but saving to prepare for such a distant future is often not an immediate priority for consumers. This study reveals that there is still a lot to be done to make people aware of the need to save throughout their lives in order to guarantee a smooth retirement and greater financial independence. And the sooner you start investing in the long-term future, the more money you can capitalize until retirement age», explains Diogo Lopes Pereira, Cetelem's marketing director.
The Cetelem study on Financial Literacy was carried out between February 16 and 19 in collaboration with Nielsen, through 500 telephone interviews with Portuguese people of both sexes, aged between 18 and 65, residing in Portugal. The maximum error is +4.4 for a 95% confidence interval.
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