NPF of Sberbank: women make retirement savings 50% more often than men

June 2, 2020, Moscow - Women make voluntary pension savings 50% more often, according to NPF of Sberbank's analysis of customers who signed personal pension plan (PPP) agreements via the Sberbank Online app in 2020. According to the study, people aged 35-44 are more interested in saving up for retirement.

Women make up 58% of Russians applying for PPPs online. About one-half of the fund's new customers (49%) are people aged 35-44. Younger Russians (25-34 years old) are also interested in voluntary pension savings, accounting for more than one-third (35%) of the fund's customers. The proportion of Russians aged 45-54 accounts for only 10% of PPPs.

Women are more responsible when it comes to voluntary pension savings. They regularly replenish their retirement accounts via Sberbank Online in 61% of cases. About 65% of women also enable the Auto Payment option. One-half of NPF of Sberbank customers who make regular payments under their PPPs via the app are people aged 35-44 years and almost one-third (31%) are 25-34 years old.

Since early this year, on average 2,500 new customers start saving for their future retirement monthly using PPPs of NPF Sberbank. In March and April, the fund's customers began to use remote channels for registration of PPPs twice as often; 33% of new contracts were signed via the Sberbank Online mobile app and on the fund's website.

Alexander Zaretsky, CEO, NPF of Sberbank,

'NPF of Sberbank studies show that now only a small number of Russians expect to live after 60 relying on state pension only. Letting customers maintain income at 80-100% of the pre-retirement salary, a PPP can be a convenient savings tool for them. It does not require large investments (the minimum first payment is RUB 2,000, all subsequent ones should be equal to or exceed RUB 1,000), it has an individual payment plan and size of contributions, and immunity to taxes while you're making savings. Money can be added to your retirement account directly via the Sberbank Online application. You can enable the Automatic Payment option not to forget to make payments regularly. Thanks to such simple and convenient services, saving up for a future retirement becomes a convenient and useful habit among our customers.'