How to grow retirement savings: Things to consider when saving for the future


Insurance Europe has published an article on the importance of saving for retirement to celebrate the start of Global Money Week, an annual global financial awareness campaign for children and young people.

Thinking ahead about retirement needs can be hard. Many young — and not so young — people believe that pensions are something to think about later in life and postpone pension-related decisions. The artiocle outlines some steps people should consider when saving for their future.

Like growing plants or trees, saving for retirement requires some planning and foresight. A gardener must plan their garden and determine which plants will thrive in that environment. Similarly, when saving for retirement a person must consider their current financial situation, their expected future needs in retirement and the income required to cover them so that they can choose the pension plan that best suits their needs.

The article is part of Insurance Europe’s #InsureWisely campaign, which demonstrates European insurers’ commitment to raising financial literacy and awareness levels across Europe.

Financial education plays a vital role in ensuring that European citizens are equipped with the knowledge, confidence and skills necessary to improve their understanding of financial products and concepts. Insurance Europe also encourages EU policymakers and regulators to play a greater role in supporting this objective.