Sberbank: Young Russians already make retirement savings

Russian young people are already saving money for retirement. Moreover, many started thinking about retirement savings before the age of 25, according to Sberbank.

Of course, Sberbank statistics only includes those young people aged 18 to 29 who are already putting money aside for the future; however, overall Russian youth is quite ready to invest into retirement. Eleven percent of respondents expect to have a high level of pension coverage, or at least RUR 50K ($790) per month. Another 25% expect to have a retirement pension of RUR 15K ($236) to RUR 20K ($315). The data was collected via a Sberbank Non-Government Pension Fund’s telephone survey in eight federal districts.

Sberbank also analyzed investment behavior of Russian youth (the information was collected by SberData). In particular, young people are highly interested in serious financial instruments. Thus, over 80% of youngest customers of Sberbank Asset Management invest in bonds while 59% prefer stocks. Young people are least interested in property investment (2%). Young investors also demonstrate strong appetite for risk as only 3% choose secure investment products.

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