Data presented at the Seimas Budget and Finance Committee (BFK) revealed a significant decline in active participation among pension savers. Last year, out of a total of 1.4 million recorded savers, 948,400 individuals were actively contributing to their pension funds. However, this figure dropped substantially to 506,000 in the first quarter of the current year.
Evaldas Valeiša, an adviser from the Pension Annuity Department of “Sodra,” noted that the reduced share of active participants suggests that the rate of withdrawal among those who were previously active exceeds the number of new active contributors. According to the presentation, active savers are defined as residents who paid any amount of contributions to the second-level pension funds within the given year. The discussion also differentiated between active and inactive participants.
Inactive participants generally include emigrants who previously engaged in pension saving, as well as foreign residents. Furthermore, it was observed that a majority of pensioners did not make contributions in April. N.
Mačiulis pointed out that these trends suggest a broader pattern regarding future financial planning among the population. The data indicates a noticeable gap between current saving behavior and perceived long-term financial security for the pension system.
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It’s concerning to see such a drop in active participation in pension savings.