The average Romanian saves EUR 18 a month, meaning 10% of earnings
Each Romanian saves on average RON 66 (EUR 18) per month, meaning almost 10% of his/hers earnings, according to data published by the National Institute of Statistics (INS), based on the family budget survey. This amount is small, but it shows the potential to stimulate private savings in a system such as the voluntary private pensions (3rd Pillar).
According to INS data, the average Romanian had a monthly income of RON 685 and monthly expenditure of RON 619 in the first quarter of this year.
Within their savings, statistics show that Romanians allocate, on average, only 1% for investments, while consumer spending is almost 72% of the total. The representatives of the voluntary private pension companies say monthly savings could and even should be directed to the 3rd Pillar system.
