A study carried out recently by Aviva Romania into the system of private pensions reveals that 81.1% of Romanians are worried about maintaining the same standard of living after retirement.
A study carried out recently by Aviva Romania into the system of private pensions reveals that 81.1%1 of Romanians are worried about maintaining the same standard of living after retirement. At the same time, research carried out by the Aviva group worldwide reveals that one in two people2 have concerns that they are not saving enough for their retirement.
In order to come to the aid of those who are worried about their financial situation in retirement, Aviva Romania has made available to them a pensions calculator on our website http://www.aviva.ro/.
"It's quite difficult for us to calculate precisely the amount that we need to save now in order to have an old age free of worry. The pensions calculator on our secure website www.aviva.ro provides help to anyone interested in estimating the amount that they would have to save per month in order to achieve the desired objective," as Shah Rouf, director general of Aviva Romania, makes clear.
"Planning for our financial future is now a simple task and something within everyone's reach; by inputting certain details, such as your desired income post-retirement or your current age, the pensions calculator can give an estimate of the monthly savings which a person would have to make now in order to accumulate the desired amount for retirement.
"Every one of us often thinks about what we should do to ensure for ourselves a retirement free of financial worries, and this calculator offers a solution by means of which, by making modest investments right now, it's possible to achieve a future free of financial worries," Shah Rouf added.
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For further information:
Giliola Ignat
Telephone: 021 203 83 73
Notes to editors:
1Local research carried out between May and June 2006 for Aviva Romania by the ISRA Center in collaboration with Roland Berger.
2Aviva Consumer Attitudes to Long Term Savings Report January 2006 Research Romania vs. CEE region (Turkey, Hungary, Czech Republic).
On a global scale, Aviva is the fifth largest insurance group and the biggest provider of insurance products in Great Britain. The group is one of the market leaders for pension and life insurance products in Europe, recording sustained growth in the area of long-term savings on the markets of Eastern Europe, Asia, Australia and the USA.
Aviva's portfolio is made up of long-term savings products, private pensions, administration of investment funds and general insurance policies. The group administers €434 billion worth of assets, representing the money of over 35 million clients worldwide.
Aviva Life Insurance officially started trading on 11 October 2000, and the company currently boasts a sales team of over 1,000 consultants and managers and a network made up of 19 agencies and 4 development centres.
In terms of performance shown by Aviva pensions funds, worthy of mention is the recent recognition afforded to Commercial Union/Aviva pensions funds in Poland by the journal Investment & Pensions Europe (Commercial Union is the name under which Aviva trades in that country), which named it one of the highest performing in Central and Eastern Europe.
The selection by the panel in awarding this prize highlights the merits of the Aviva/Commercial Union company in promoting corporate administration standards on the Polish capital market.
The panel made the following statement on the award: "On a pensions market still in its earliest stages, the pioneering activity demonstrated by Aviva/Commercial Union Poland has proved to be a key factor in the setting of corporate governance standards. Commercial Union has taken on a proactive role with regard to the companies in which it has decided to invest, both in terms of its proposals to shareholders' general meetings and in terms of assets invested."
Ever since the implementation of pensions reform in 1999, Commercial Union Poland has been the market leader in terms of the number of clients and the value of its administered assets.