Analytics, Financial Services, Latvia, Pensioners, Society

Only 9% of respondents said that a pension of EUR 500 would be sufficient. None agreed that EUR 300 (the current average pension in Latvia) would suffice.

The Central Statistical Bureau reports that the average monthly pension in the second quarter of this year was EUR 264.81. 3% of respondents said that a monthly pension of EUR 300-400 would suffice, while 6% – EUR 400-500.

The majority (59%) of Latvian residents said that EUR 500-1,000 would be a sufficient monthly pension. 12% of them said that they would like to receive pensions of EUR 500-600, 13% – EUR 600-700, 13% – EUR 700-800, 10% – EUR 800-900, 11% – EUR 900-1,000.

Almost every fourth (23%) respondent said that a monthly pension of EUR 1,000-2,000 would be sufficient. 4% of respondents said that they would like to receive more than EUR 2,000 in pension.

"The survey demonstrates that the majority of residents of Latvia would like to keep and even improve their current standard of living after retiring. 94% of those whose monthly income is up to EUR 300 said that they would like to receive more in pensions. 55% of those whose income ranges between EUR 700 and EUR 900 said that they would like to have pensions of over EUR 900," representative of Citadele Jolanta Jerane says.

The survey was conducted between September 10 and September 19. A total of 750 residents of Latvia, older than 18, participated in the survey.