Post by account_disabled on Mar 5, 2024 23:07:52 GMT -5
The so-called millennial generation”, which represents at least one in every four inhabitants of the country today, is insensitive to the issue of retirement, to the resources they will receive at the end of their working life, which makes them one of the groups most vulnerable in terms of pensions, stated the National Commission of the Retirement Savings System . In a new study on the need to promote voluntary savings to strengthen the amount of the retirement pension, the regulatory body stated that young people associate the issue of retirement with feelings of discomfort, uncertainty and even rejection, and cause the action of saving is postponed. Regarding the term insensitive, specified that it refers to one of the three meanings of the dictionary, that which is not perceived or that it is difficult to perceive, and not to the other two, referring to that one cannot feel or that one has lost consciousness. sensitive or has no feelings. But even with the definition, he maintained that being insensitive has an impact when it comes time to retire.
According to estimates, a person at the end of their working life must accumulate resources in their individual account equivalent to times their America Mobile Number List current salary (about 934 thousand pesos) to reach a pension equivalent to 60 percent of their current salary. This means that to reach this goal, just after turning 30, said person should have accumulated in his Afore account the equivalent of 1.8 times his salary (approximately 142 thousand pesos). Therefore, he stressed, it becomes important to start the habit of saving at an early age with a view to increasing the pension, since the horizon is longer and the benefit of interest capitalization is fully taken advantage of. A person with a current income of three minimum wages with a saving of 10 pesos a day for 40 years would raise their replacement rate (the pension they would receive in replacement of the salary) from percent.
According to the document, the “millennial generation” will have a much more complex environment regarding pensions than that faced by previous generations due to various factors: this generation will live many more years than the current generation of their parents and grandparents. , so it will require saving much more; will face a labor market in transition, where long-term and stable jobs will be the exception rather than the norm, along with a labor market still with a high incidence of informality, despite some recent advances. Other factors mentioned by the organization refer to the fact that low birth rates will reduce family units significantly, so family support for old age will be increasingly less; This generation will retire exclusively with the savings in the , which is insufficient to achieve replacement rates similar to the rates of previous generations who were able to retire with generous (subsidized) defined benefit pension schemes. also warned that the panorama of returns (of pension resources) in the coming decades looks much more complex than that of the past 20 years because the current generation of young people, for various reasons, is joining the market later.
According to estimates, a person at the end of their working life must accumulate resources in their individual account equivalent to times their America Mobile Number List current salary (about 934 thousand pesos) to reach a pension equivalent to 60 percent of their current salary. This means that to reach this goal, just after turning 30, said person should have accumulated in his Afore account the equivalent of 1.8 times his salary (approximately 142 thousand pesos). Therefore, he stressed, it becomes important to start the habit of saving at an early age with a view to increasing the pension, since the horizon is longer and the benefit of interest capitalization is fully taken advantage of. A person with a current income of three minimum wages with a saving of 10 pesos a day for 40 years would raise their replacement rate (the pension they would receive in replacement of the salary) from percent.
According to the document, the “millennial generation” will have a much more complex environment regarding pensions than that faced by previous generations due to various factors: this generation will live many more years than the current generation of their parents and grandparents. , so it will require saving much more; will face a labor market in transition, where long-term and stable jobs will be the exception rather than the norm, along with a labor market still with a high incidence of informality, despite some recent advances. Other factors mentioned by the organization refer to the fact that low birth rates will reduce family units significantly, so family support for old age will be increasingly less; This generation will retire exclusively with the savings in the , which is insufficient to achieve replacement rates similar to the rates of previous generations who were able to retire with generous (subsidized) defined benefit pension schemes. also warned that the panorama of returns (of pension resources) in the coming decades looks much more complex than that of the past 20 years because the current generation of young people, for various reasons, is joining the market later.