# Simple arithmetic: the average Russian can never save up for a decent pension

Analytics
Simple arithmetic: the average Russian can never save up for a decent pension
10 February 2021, 13:27
The maximum that a citizen of Russia can collect for his entire work experience, saving 10% from the average salary is 3.5 million rubles.

Analyst Andrei Nalgin is sure that, even if it's too late, it still dawned on the citizens of Russia: they would never receive any normal pension, but must accumulate it themselves. However, even this is impossible for the overwhelming majority of Russians of any age: they still don't have enough time.

Social polls show that 19% of Russians would like to accumulate a "solid fortune" by the end of their working career.

27% are sure that for a comfortable life in retirement with good food, medical care and the ability to travel, they need to accumulate from 20 to 50 million rubles.

22% of Russians decided that it would cost 5-10 million rubles, not saving only on basic needs.

18% of respondents dream of saving as much as \$ 10 million (or 750 million rubles) both for themselves and for their heirs.

"14% is enough “only” 1 million dollars. But what in reality?" - asks Nalgin. And here's what: a person with an average salary will not have time to collect even a measly 5 million rubles in his entire working life.

The growth of Russian prosperity did not affect the average citizen in any way.

If in 1999 such people earned 1,523 rubles. per month, then in 2020 - 50 thousand 690 rubles. Putting aside 10% of them, as the experts say, we will receive 573 thousand rubles in 22 years, and with bank interest for this period - 1.7 million rubles. If we take the entire work experience from 20 to 65 years, the maximum accumulation will be 3.5 million rubles...

With the same input data, but for dollar savings, we will receive as a result about 31 thousand dollars or 2.3 million rubles. at the current rate. And for the entire length of service - 4.0-4.5 million rubles, taking into account the near-zero rates on dollar deposits in the country in recent and, probably, the next years in Russia.

"Not bad, right? You need to part with illusions to save for the old age", - the analyst concludes.

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