Will the retirement age be 70? These are the latest expectations

More and more people think that by the time they reach the retirement age, already there will be no pension or they will only be able to enjoy it at a very old age. Since 2019, the K&H secure future research has been regularly examining the pension expectations, prospects, and attitudes of members of the 30-59 age group, it writes the Market and Profit.

This is how Hungarians think about the retirement age

Compared to previous years, there is no big change in the first quarter of this year according to a significant number of respondents, the retirement age will be 69at the same time, a slight increase in the proportion of those who think that – 33 percent – is noticeable They will not be able to retire before the age of 70 – five years ago, only 24 percent thought so.

The research participants’ expectations of a likely increase in the retirement age are also strengthened by the fact that, while until 2020, 65 was clearly the most frequently mentioned age, in 2021-2022-2023, 65 and 70 were mentioned head-to-head by almost the same number of people. . This year, the trend has already reversed

Pálma Székely, head of sales and life insurance, presented the results.

If they could, they would retire earlier

62 percent of those surveyed expect to officially retire at the time set by law. 11 percent believe that they could retire before reaching the official age limit. The respondents 27 percent expect to continue working after reaching retirement agealthough this proportion did not increase compared to 2022-2023, between 2019 and 2021, 18-21 percent still thought so. According to the authors of the survey, all of this can be partly explained by financial prospects.

They also asked when they would like to retire. In the first quarter of this year, the respondents mentioned an average of 57 years, However, 18 percent of them would enjoy it already at the age of 50 retirementand 24 percent of them are aged 51-55.