Pensions|According to Eva, the vast majority of young people have lost faith in the pension system.
The summary is made by artificial intelligence and checked by a human.
According to Eva’s survey, almost half of Finns have lost faith in the pension system.
More than half of people under 45 believe that the pension system will collapse in the future.
83 percent of Finns consider increasing the employment rate as the best way to stabilize the pension system.
Eva will announce the results at the same time as negotiations on reforming the pension system are taking place.
Nearly half of Finns have lost faith in the pension system, claims a survey conducted by the Finnish Business Council, or Eva.
The question formulation of the research, from which the conclusion is drawn, can be considered quite drastic. Eva’s argument goes like this: “In the future, our pension systems will collapse and even the already earned pensions will not be able to be paid.”
According to Eva, more than half of people under the age of 45 agree with this statement. According to Eva, this is the opinion of 48 percent of the entire population.
Eva has been repeating her surveys measuring citizens’ feelings for decades. According to Eva, trust in the pension system was last this weak in a survey conducted during the recession of the early 1990s.
Currently, the research is carried out in the Internet panel of Taloustikkumas.
The data is weighted to represent the population according to age, gender, residential area, education, profession or status, industry and party support. There are a total of 2018 people as respondents.
Eva also asked how the pension system should be balanced if the money threatens to run out. According to Eva, the majority, 83 percent of Finns, consider raising the employment rate as the most acceptable way to stabilize the pension system.
According to Eva, the younger age groups in particular have a much more positive attitude towards the increase in pension payments than in previous surveys. Increases in pension payments are considered acceptable by 42 percent of the entire population.
On the other hand, according to the survey, the younger age groups have a more positive attitude towards the weakening of pensions than the older age groups. According to Eva, 41 percent of all Finns and as many as 55 percent of 26–35-year-olds would accept the freezing of pension index increases.
However, according to the survey, only about a quarter of Finns would accept cutting pensions, even though it is almost the same issue.
Eva announces the results at the same time as negotiations are taking place behind the scenes to reform the pension system. The labor market organizations should find an agreement by the end of January on how to balance the pension system in the future, if necessary.
The business world is strongly pushing a model where increases in pension contributions would be made impossible, and the system would be automatically balanced by cutting pensions.
In practice, it would be done by stopping the index increases that normally increase pensions. Cutting or freezing indices means weakening the real value of pensions.