One third of Slovaks consider savings to be extremely important. According to a recent survey by Slovenská sporiteľňa, they are worried about further developments in the economy, which may later have a negative impact on their income. Only three percent of respondents do not consider it necessary to save money. "It is good to reassess one's savings and increase it at least by the amount of inflation, in the case of savings for housing by the amount of any increase in property prices. For example, real estate prices have risen by around 7.5 percent in the last year, so if you save €100 today to buy a flat or a house, this sum should be increased to at least €107 next year, " said Slovenská sporiteľňa analyst Lenka Buchláková, adding that in general savings should represent at least 10% of income.
Many Slovaks are increasingly giving thought to saving for retirement. The volume of savers' assets in the private second pension pillar reached €9.46 billion in mid-January, with its net value increasing by €43.4 million. The guaranteed bond funds, with a total of €6.76 billion in them, still contain the majority of savers' assets. In the non-guaranteed funds, assets amount to € 2.7 billion. The funds in the personal pension account - the so called second pension pillar - are the property of the client and are therefore paid to survivors in the event of death. Slovaks must decide on whether or not to join this type of private pension scheme by the age of 35.
