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Ageas is looking to promote a shift in Portugal’s savings culture

How much a population saves plays a crucial role in a country’s economic growth  too little, and it can act as a stranglehold with far-reaching,
The OECD also revealed that the Portuguese are passive in the management of their savings: saving is an active choice for less than 40 percent of respondents.
The OECD average, meanwhile, is 60 percent, while Norway’s is an impressive 80 percent. Along with the fact that few incentives related to savings exist, a lack of knowledge in this area is still very common.Financial literacy is therefore a determining factor in our daily lives, especially as it is becoming more and more complex. The learning process should start at a young age.
Fortunately, this evolution has already begun, with Ageas Portugal playing an important role: the challenge of promoting financial literacy has been incorporated into our global CSR strategy.Financial literacy also plays an extremely important role in creating a new culture for saving, which means we need to be more aware of the practical relevance of financial literacy in its various aspects.Being a market leader in the life and pensions sector in Portugal reinforces our active role in developing the education of citizens towards saving. It is also important to reinforce civic education in schools as a way of affirming the importance of saving from an early age.At Ageas Portugal, we truly believe that the development of skills in this area and the creation of savings habits should start early, in order to develop a greater awareness of the need for good long-term financial management.Retirement approach
Portugal is ageing.
Today we live longer, with fewer children being born too. By 2050, only one in eight people will be considered young – that is, they will be younger than 15 years old.
Despite the fact that there is some time to go before we encounter this scenario, Portugal is already the sixth-oldest country in the world. As such, it is simultaneously confronted with both the benefits and challenges of increasing longevity.Given the international recommendations for living longer, it is curious to see that Portugal’s recent evolution points to an increased focus on the practices of active ageing, despite the lack of mobilisation in older people. As such, it is essential to determine the policies we must adopt in order to ensure the future of this new demographic age.In January 2018, we learned that the average age where people will be granted access to pensions will increase by one month in 2019, to 66 years and five months. Is this enough to ensure the viability of dignified ageing? We don’t think so.The retirement pension is now recognised among the main causes for household indebtedness. This, combined with a high unemployment rate and the deterioration of working conditions, is very concerning for Portugal’s ageing population.
Indeed, if the level of savings does not increase, the retirees of the future are likely to receive considerably less than current pensioners.We have tried to alert older people to the risks of having a carefree plan for the future.We also need to focus on savings instruments that will safeguard them during their retirement years. Fortunately, our wide range of offers responds to the various needs that can arise during this phase.In a bid to create greater awareness, we have teamed up with a major media player to launch a cycle of conferences. The first of these conferences was exactly about this subject: ageing well.Taking the initiative,We have many other initiatives in place too. For instance, Ageas has partnered with a group of like-minded companies to create Singularity U Portugal Summit Cascais, an event that brings the world’s leading experts on accelerating technologies together with Portugal’s brightest minds.
As a founding partner, Ageas helps to connect great companies, entrepreneurs and future innovators with a view to creating new opportunities and training leaders to solve society’s biggest challenges through technology.Go Far is another great example.It’s a joint venture between Ageas and the Portuguese National Association of Pharmacies, which has launched an innovative integrated health services network spanning more than 2,500 associated pharmacies. Services range from the administration of injectables to a wide range of analytical processes.
As we know, pharmacies are highly valued by local communities, particularly among elderly people, who view them as a secure, trusted service when it comes to their health.In a completely different area, we have created a new service designed for expats.The joint venture – this time a result of a collaboration with a real estate consultant – helps support clients in essential tasks such as looking for a house, opening a bank account or obtaining insurance.At Ageas, we want our activities to be far-reaching.The insurance industry has changed completely: today, we need to go beyond insurance by enlarging our ecosystem with new partnerships, as the closed insurance world simply does not work anymore. We need to be in the front line for anticipating needs and tendencies, while also focusing on our customers’ satisfaction and requirements.
In doing so, we will continue to play a relevant role in society while remaining a sustainable organisation that employs approximately 1,300 people.Post navigation Previous article Cyprus is proving to be an attractive destination for investment funds Related:Hungarian Post Life Insurance is harnessing digital value to grow its client base Ceylinco Life is breathing life into Sri Lankas life insurance space Yılmaz Yıldız: Turkeys troubles are just a blip on the long-term chart How Turkeys currency crisis could make Zurich Turkey more profitable Thai Life Insurance is succeeding by putting its customers first World Finance Global Insurance Awards 2018 Activobank offers simple, transparent, honest banking to Portugal Thai Life Insurance pursues digital mindset to transform its culture Active Bank finds the perfect balance between tradition and innovation in Portugal Portugal reaping the rewards of the Golden Visa programme Regulars Profile.

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