More people in Portugal are making an effort to save up for retirement and the increase in the number of pension savings plans (PPR) is proof of this, said the president of Portuguese Association of Insurers (APS).
Presenting results for the first six months of the year, Pedro Seixas Vale highlighted that “PPRs are the most viable vehicles to ensure retirement savings as they are long-term plans and will continue to play an important role in the market”.
According to APS data, savings from PPR pension plans recorded a 70% increase in the first half of the year, amounting to €665 million at the end of June.
The advantages of retirement savings accounts (PPRs) are now being marketed more vigorously by the banking sector, which is looking for alternatives to other less sought-after products, such as loans or deposit accounts, and because it is aware of the instability surrounding state pensions.
