49% of Latvian residents want to receive EUR 1,200-2,000 pension – survey

In Latvia, 49 percent of residents would like to receive a monthly pension between EUR 1,200-2,000, but currently the average pension in Latvia is EUR 576, representatives of Luminor Bank informed LETA, citing the data of a survey.

At the same time, 30 percent of the respondents expressed the opinion that they would be able to live on a pension of between EUR 600-1,200.

Atis Krumins, pension expert at Luminor Bank, explains that under the current state system, it is possible to ensure the desired monthly pension amount if one’s own savings are planned and made in time – by making contributions to the third level of pensions, investing in shares or bonds, or choosing some other type of savings.

The bank’s expert points out that the results of a survey conducted in September clearly show that people have high expectations for their future pension and expect it to be at least almost half the amount of what current seniors receive on average each month.

The Luminor Bank survey in Latvia was conducted in September 2024 in cooperation with the research agency Norstat Latvija, with 1,003 respondents aged 18-74.