Factors in the decision on youth retirement savings

Ovaj rad obuhvaća područje vezano uz mirovinsku pismenost i štednju u kojem su pripadnici generacije Z u centru istraživanja. Pripadnici generacije Z su mladi rođeni nakon 1995. godine. To je prva generacija koja je rođena i odrasta u digitalnom svijetu koji pruža laku dostupnost velikog broja informacija, a samim tim pripadnici generacije Z potpuno drugačije razmišljaju i obrađuju informacije od svojih prethodnika. Takva situacija je dovela do određene promjene ponašanja generacije Z vezanih uz osobne financije, mirovinsku pismenost i štedne navike u odnosu na prethodne generacije. Glavni ciljevi ovog rada su: osvijestiti mlade o važnosti kreiranja pravovremenog plana za mirovinsku štednju, istražiti stavove i motive mladih u kontekstu štednje, te istražiti čimbenike koji utječu na donošenje odluke o mirovinskoj štednji. Za potrebe ostvarivanja navedenih ciljeva istraživanja, provedeno je jednokratno istraživanje na prigodnom uzorku od 165 ispitanika, osoba od 18-30 godina starosti. Analizom i obradom podataka koji su prikupljeni istraživanjem vidljivo je da su mladi poprilično upoznati s mirovinskim sustavom Republike Hrvatske, a slabije su upoznati s nekim oblicima štednje, posebno s dobrovoljnim mirovinskim fondovima. Mladi su postali svjesni važnosti mirovinske štednje, ali većina njih ne poduzima nikakve dodatne radnje. Razlog takvog ponašanja je nedovoljna informiranost o prednostima koje nude određeni oblici štednje, loši životni prioriteti, te sociodemografski čimbenici kao što su: godine, razina obrazovanja, mjesečni prihodi, itd. Također, novi marketinški kanali informiranja i digitalizacija su pozitivno utjecali na povećanje mirovinske i financijske pismenosti mladih, a ujedno i povećanju svijesti o važnosti mirovinske štednje. Može se zaključiti da su dosadašnje marketinške aktivnosti države i ostalih institucija dovele do povećanja financijske pismenosti, a nešto manje mirovinske pismenosti mladih. Potrebno je da se taj trend nastavi jer bi se na taj način smanjio pritisak na mirovinski sustav, dugoročno poboljšalo financijsko blagostanje mladih, povećala štednja za mirovinu, te se posljedično poboljšala kvaliteta života mladih u umirovljeničkim danima. Također, država i institucije se posebno moraju fokusirati da mladima transparentno i detaljno prikažu sve prednosti i pogodnosti štednje za mirovinu kako bi mladi počeli realizirat njihovo razmišljanje o štednji.This paper covers the area related to retirement literacy and savings in which members of Generation Z are at the center of research. Generation Z members are young people born after 1995. It is the first generation to be born and raised in a digital world that provides easy access to a large amount of information, and thus members of Generation Z think and process information completely differently from their predecessors. Such a situation has led to a certain change in Generation Z behavior related to personal finances, retirement literacy and savings habits compared to previous generations. The main objectives of this paper are: to make young people aware of the importance of creating a timely plan for retirement savings, to explore the attitudes and motives of young people in the context of savings, and to explore factors influencing the decision on retirement savings. In order to achieve the stated goals of the research, a one-time research was conducted on a suitable sample of 165 respondents, persons aged 18-30. The analysis and processing of data collected by the research shows that young people are quite familiar with the pension system of the Republic of Croatia, and are less familiar with some forms of savings, especially non-compulsory pension fonds. Young people have become aware of the importance of retirement savings, but most of them do not take any additional action. The reason for such behavior is insufficient information about the benefits offered by certain forms of savings, poor life priorities, and socio-demographic factors such as: age, level of education, monthly income, etc. Also, new marketing channels of information and digitalization have had a positive impact financial literacy of young people, as well as raising awareness of the importance of retirement savings. It can be concluded that the marketing activities of the state and other institutions so far have led to an increase in financial literacy, and somewhat less pension literacy among young people. This trend needs to continue because it would reduce the pressure on the pension system, improve the financial well-being of young people in the long run, increase retirement savings, and consequently improve the quality of life of young people in retirement. Also, the state and institutions must pay special attention to show young people transparently and in detail all the advantages and benefits of saving for retirement in order for young people to start realizing their thinking about saving