Clipping of news on Brazilian Culture, Law and Citizenship
21/01/2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Most Brazilians near retirement are not saving or want to start saving exclusively for the period in which they will leave the labor market. The tenth edition of the global study The Future of Retirement - A Balancing Act, prepared by HSBC shows that 53% of Brazilians are in this situation. Among 15 countries analyzed by the survey, only the Turks save less for old age (59% say they save for retirement). Brazilians ranked second, tied with Australians.
Saving for retirement is made harder by the population of the United States and Hong Kong. In these places, only 25% of people do not save. The world average is 38%.
The study by HSBC heard 16,000 people, with 1,001 respondents in Brazil of working age (25 years or more) and has also retired. Online interviews were conducted by Ipsos Mori between August and September last year.
Although the Brazilian save little, that does not mean he does not care about the future, according to Alfredo Lalia, HSBC Insurance president in Brazil. "For the first surveys, we find that people are worrying more about the future, but are not necessarily making it through to the next stage, which is to achieve saving," says Lalia.
According to the executive, a number of factors have contributed to the greater concern of Brazilians with a long-term investment. Since the Real Plan, which put an end to hyperinflation, Brazil has become a more stable economy that allows planning applications for longer. In addition, there was a maturation of the pension industry.
Several factors impact the lack of savings of Brazilians for retirement, the study shows. Topping the list is unemployment (35%), followed by the purchase of property (28%), the global economic crisis (27%), debt contracting (26%) and education of children (21%). "Some of these factors can be controlled, others not. The purchase of the property should not exclude savings. Sometimes it's a matter of lack of planning," says the bank executive.
The survey also found that the less confident to maintain a comfortable standard of living in retirement are those classified in the study as "pre-retirees" - Brazilians with 45 years or more. In this group, 40% fit this profile. In the younger segment of the population, among those 25-44 years, the concern is 26%. "The pre-retirees are older and lived just at that period when the country faced hyperinflation, and pension plans were practically nonexistent," said Lalia. "Today, when a person enters the labor market is beginning to hear about security," he says.
Mismatch. The survey also found a gap in retirement vision in Brazil. Among the retired Brazilian, 38% believe that the best age to start saving is before age 30, and only 22% favor the onset of 41 years to 65 years. In the range of pre-retirees, 33% assessed as ideal start planning for the future before age 30, and an almost similar number, 29%, defends the beginning of 41-65 years. "The Brazilian is often more optimistic than the average (from other countries) in future costs. And when it comes in retirement, realize you should have started saving earlier," says Lalia.
Source: Estadão
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This article was translated by an automatic translation system, and was therefore not reviewed by people.