If they could, middle-aged people would finish work at the age of 57

By: Trademagazin Date: 2024. 08. 02. 10:12

The proportion of people expecting a higher retirement age has increased significantly in recent years, according to the K&H Commissioner for the Future research. In the first quarter of this year, 33 percent of middle-aged people expected that they would only be able to retire at the age of 70, compared to 24 percent 5 years earlier. Another remarkable result of the survey is that members of the 30-59 age group would turn their backs on work at the age of 57 if they could.

There are still huge differences in the pension prospects of middle-aged people, according to the K&H Secure Future research, which has been regularly examining the pension expectations, prospects, and attitudes of members of the 30-59 age group since 2019, i.e. exactly 5 years ago.

In the first quarter of this year, according to the respondents, the average retirement age will be 69 by the time they reach it, which does not represent a change compared to recent years. At the same time, 33 percent of them mentioned 70 years, which means an increase compared to the previous ones. 5 years ago, only 24 percent of them had this opinion, and since then their proportion has gradually increased.

“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 already mentioned head-to-head by almost the same number of people year. And this year, the trend has already reversed.”

– Pálma Székely, head of K&H’s sales and life insurance business, presented the results.