Slovaks aware of need to save towards retirement

More than four out of 10 Slovaks use a pension savings or pension insurance plan to raise the value of their savings towards retirement, derived from a survey on Saturday carried by Pioneer Investments, featuring 500 respondents.

"It showed that people in Slovakia are aware of the need to create their own financial reserves that will be their additional income in retirement," stressed the company's manager Miroslav Ovcarik.

As it turns out, as much as 57 percent of people aged 30-44 save for their retirement through one of the two options above.

Meanwhile, 29.2 percent of the respondents in the survey save for retirement through bank savings accounts or fixed-term deposits.

Mutual funds as a mode of saving towards one's retirement are used by 7.6 percent of people, with another 48 percent saying that they have thought about investing in a mutual fund but have not as yet "mustered the courage" to do so.

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