Greeks Want to Save for Retirement, but Most Can’t Afford To

Most Greeks would like to secure a comfortable retirement. Yet for many, saving toward that goal remains out of reach. According to a pan-European public opinion survey on retirement savings conducted by Insurance Europe, nearly six in 10 Greeks do not save for retirement — a significantly higher share than the European Union average. The findings highlight a striking contradiction: strong expectations of future pension income coexist with limited personal savings and low confidence about life after work.

Willing but unable to save

The survey shows that 59% of Greeks are not saving for retirement, compared with 41% across the EU. At the same time, attitudes toward retirement savings are broadly positive. About 76% of respondents in Greece say they view saving for retirement favorably.

The main obstacle is not reluctance but financial capacity. Forty-four percent of Greeks say they would like to save but simply cannot afford to. Another 15% plan to start saving in the near future, while 17% say they are interested but feel they lack sufficient information to make decisions.