The Self-Care in Payg Pension System of Students

Abstract

Financial security during retirement years is a burgeoning issue in Europe. The role of self-care is becoming more significant, by the escalating number of people joining pension funds or starting other savings. In the future, the role of these institutions will be even more valued due to demographic changes. The trends are clear: pensions will be a significant issue in the upcoming decades. By contrast, the level of interest exhibited by the youth remains limited regarding pension funds. The research was oriented towards to answer the following question: given the current pension system, what are the attitudes of Hungarian students/young workers aged between 18-25 – who will form the basis of the labor market in the future – towards self-care. Quantitative, questionnaire-based survey research designs were adopted to provide the attitudes, financial awareness and self-care level of students.