Awareness and Attitudes of Students to the Prospect of a Secure Old Age

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Yulia FINOGENOVA1, Gulnara KAIGORODOVA2, Maria PŁONKA3, Tomasz JEDYNAK3, Tatiana POHARCHENKO4 and Iryna ZELENITSA4

1Plekhanov Russian University of Economics, Moscow, Russia

2Kazan Federal University, Kazan, Russia

3Cracow University of Economics, Cracow, Poland

4Kyiv National University of Trade and Economics, Kyiv, Ukraine

Abstract

The paper aims to identify students’ attitudes to and awareness of the retirement age and social protection, as well as their expectations with regard to educational activities in this area, the propensity for voluntary forms of savings for future retirement, trust in financial institutions. The research was carried out in 2019, using an anonymous PAPI type interview on a non-random sample of economics students (N = 382 people) who were either full-time or part-time students. This pilot study focused on theoretical questions about aging and retirement, which included personal, work, non-work, and retirement contextual factors as predictors of expected retirement age. The main questions of the study are the levels of knowledge of elementary issues about social security, young people’s attitudes towards saving and investing, future retirement, care for the elderly and healthcare, health insurance. The authors also identified the level of attractiveness of studying issues related to social security for students. Studies have shown that, despite the lack of an expressive attitude to social insurance, respondents are interested in deepening knowledge in this area.

Keywords: Financial Education, Social Security, Investment, Retirement Policies, Public and Private Pensions
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