Proaktívny prístup k tvorbe súkromných dôchodkových úspor: kľúčové determinanty[Proactive Approach to Private Pension Savings: Key Determinants]

Component encouraging private savings was introduced or is under consideration in pension schemes of many countries. This diversification of old-age income sources shifts the responsibility for the level of retirement income to the individuals themselves and, at the same time, opens the question about their preparedness for such financial decisions. Inadequate savings could have enormous impact on their future life and determine their standard of living in the period of retirement. The aim of the paper is to identify key demographic and socio-economic factors determining individuals' proactive approach to the private pension savings. We also would like to point out group of individuals with a low level of the private savings involvement. These individuals are potentially poverty vulnerable in their old-age. Using representative sample of 2 826 citizens of the Slovak Republic from the Household Finance and Consumption Survey carried out by the National Bank of Slovakia, we have identified as key factors age, education, income, ownership of second real estate and other financial assets and sharing household with pensioners. Our research contributes to the extension of existing knowledge that can be used by countries with multi-pillar pension systems, absence of occupational employment funds and low availability of products for voluntary pension savings.