Poll: Most Czechs worry about financial security in old age

Prague, Jan 31 (CTK) - Over two-thirds of Czechs are afraid of a bad financial situation when they become old, according to a poll conducted by the CVVM polling institute in December and released today.

Some 81 percent of Czechs are of the view that the pension paid by the state is insufficient.

However, only 56 percent of those polled have some saving or investment schemes of their own.

Some 70 percent are afraid of insufficient financial situation in the pension age.

One-third said they were "very afraid," which was 7 percent more than in 2010.

People under 20 and those considering their living standard good tend to be less afraid, while the poor and leftist voters are most afraid.

People over 45 are not afraid of retirement more than members of other age groups.

Over four-fifths of Czechs do not trust the state-paid pension. Only 8 percent believe that it will provide them enough money. These responses did not much change over the past two years.

About 56 percent have their saving schemes, which is roughly the same as in 2010. This mostly relates to the people aged 30-59, with higher and secondary education and living in the households with the monthly income of over 40,000 crowns.

People under 30, with elementary education and bad living standards mostly do not contribute to their own saving schemes.

The poll was conducted on a sample of 1,047 people over 15 on December 3-10, 2012.

($1=18.949 crowns)