Experts Anticipate Serious Pension System Crisis and Advise to Start Saving for Retirement From 25

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Experts advise to start saving money for retirement since youth in light of world tendency of population aging.

The UN calculated that in 10 years there will be a real threat to contemporary pension systems and provision of the humanity since the world will have over 1 billion of elderly people, reportsKP-Ukraine.

American investment companies have calculated that to ensure a well provided retirement years you need to save 8 annual salaries in your life time. There must be a certain regime for that - putting aside 6% of salary starting the age of 25.

But apart from saving this amount you need to invest it wisely otherwise the inflation will eat through it.

Ukrainians have several options of saving with the most popular being a bank deposit. And this is the simplest option because the process can be automated by allowing the bank to withdraw a certain amount from your salary account. However, it is hard to calculate how much you will get in a couple of decades since the interest rates change all the time.

In a last year the interest rates in Ukraine have increased by almost 50% but the experts think that they will drop after the elections.

Moreover, experts recommend using different banks since nobody is insured against bankruptcy. Other options include life insurance and commercial pension funds but these kinds of investments are not popular among Ukrainians.