Poll results
Should young people be required to already have retirement savings?
Support
Reject
Don't know
PolitPro Community – 3076 respondents – 10.08.2023-17.08.2023
Poll information
Should young people be required to already have retirement savings? 39% voted in favor of mandatory retirement provision for young people, 51% against.
:undecided% chose the answer "Don't know". The survey was conducted among 3076 users of the PolitPro app during 10.08.2023-17.08.2023. The results are not representative, but may give a rough idea of the political mood around the issue.
Pros - What's in favor?
- Early financial security: mandatory retirement planning would encourage young people to make early provisions for their financial future. By building up retirement savings at a young age, they would be able to save money over a longer period of time and build up greater assets over the long term. This would enable them to be financially secure in old age and ensure a better quality of life.
- Awareness of financial responsibility: mandatory retirement planning would help young people develop an awareness of financial responsibility. They would learn to save money and make financial decisions for their future. This could help them become financially independent in the long term and better able to deal with the challenges of adult life.
- Relieving pressure on the pension system: making retirement planning mandatory for young people would relieve pressure on the pension system in the long term. By building up their own retirement savings early, young people could help meet their own financial needs in old age and thus rely less on government support. This would reduce pressure on the pension system and ensure its long-term sustainability.
Cons - What's against it?
- Restriction of individual freedom: Mandatory pension provision could be seen as a restriction of individual freedom. Young people should have the freedom to choose how to manage their money and provide for their future. Mandatory retirement planning could be seen as government paternalism and take away young people's financial autonomy.
- Uncertainty of future pension systems: Pension systems and retirement plans may change over time. There is a possibility that pension systems and arrangements in the future will look different than they do today. Young people may be forced to pay into systems from which they may not fully benefit. This could be perceived as unfair.
- Financial burden on youth: Mandatory retirement savings could place a financial burden on young people, especially if they are still in education or training. They might have difficulty raising enough money for their current expenses while saving part of their income for retirement. This could lead to additional stress and financial constraints.