More than one in three young people aged 18 to 24 are already saving for their retirement

We have the so-called happy-go-lucky, reckless or even high rollers. In reality, more and more young people are concerned about their standard of living in retirement. This is what the latest Insurance Barometer from BPCE L’Observateur reveals. According to this survey of 2,000 people, one in two French people (48%) regularly puts money aside for their retirement. Among them, 37% are between 18 and 24 years old, 46% between 25 and 35 years old.

These figures may be surprising. Before their forties, employees generally prefer to save to finance major consumer expenses (vehicle) or the acquisition of their first home. But young people are increasingly concerned about the amount of pension that awaits them when they retire. The French, young and old, are concerned about being able to “live correctly” (43%), or even “remain financially independent” (37%). A concern which encourages them to immediately add to their Retirement Savings Plan (PER), this investment created in 2019 which allows them to build up future additional income and whose funds can only be released at the end of the professional life.

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If young people are worried about their old age, it is partly due to the expected deterioration in the standard of living of retirees. Certainly, if we compare the average standard of living of retirees with the entire population, it appears slightly higher: 2,132 euros per month in 2019 compared to 2,099 euros, according to Drees, the statistical service of the social ministries. But, according to the same source, inflation has already started to undermine their purchasing power, despite a revaluation of 0.4%. “The purchasing power of retirees decreased by 1.3% in constant euros compared to 2020 following an acceleration in prices of 2.8% which will only be reflected in the revaluation of pensions in 2022” , indicates Drees.

Last year, the debates on the pension reform carried out by the government were punctuated by numerous protests. This news has undoubtedly contributed to making young people more concerned about their retirement, whether in terms of the legal retirement age or the amount of the pension. Fortunately, retirement doesn’t only bring feelings of apprehension. Beyond precautionary savings, one in two respondents also want to put aside to have the freedom to “take more time for themselves” (50%), or for their “loved ones” (45%) in retirement. . A large part of the workers surveyed also plan to take advantage of the “late season” that is looming to travel (45%)... Any motivation to start saving now?