Survey: 45% of Latvians expect pension to exceed half of current income
A survey by "CBL Asset Management", a subsidiary of Latvia's "Citadele" bank, shows 45% of residents expect their pension to be more than half of their current income. According to the Finance Ministry, the average old-age pension equals about 47% of the average net wage.
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Nearly half of Latvian residents, or 45%, expect to receive more than half of their current income once they retire. This follows from a survey carried out by the asset manager "CBL Asset Management", a subsidiary of "Citadele" bank, which announced the results on 14 November. The figures matter because they highlight the gap between public expectations and the actual size of pensions in the country.
Survey results
One in five respondents, or 22%, hopes to keep at least 70% of their current income. A quarter of those surveyed believe their pension will be no more than half of what they earn now. Almost a third, or 30%, do not know what share of their income they could receive; this answer was most common among young people aged 18 to 29 (39%).
Expectations are highest among people aged 30 to 39: one in four in this group anticipates at least 70% of current income. Among those aged 18–29 the figure is 19%, and among 50–59-year-olds it is 20%.
The actual situation
The bank cites data from the Central Statistical Bureau, according to which the average net wage in Latvia in the second quarter of 2026 was 1,401 euros. Finance Ministry data show that the average old-age pension paid in the first nine months of this year was about 660 euros, or roughly 47% of the average net wage.
Expert comment
Kārlis Purgailis, chairman of the management board of "CBL Asset Management", says that pension size depends not only on income earned during working life and social contributions, but also on the growth of accumulated pension capital. In his view, relying solely on the pension to automatically maintain one's usual standard of living would be risky. The earlier people begin building additional savings, the smaller the regular contributions needed to reach their goal may be. In the second pension pillar, choosing an investment plan suited to one's age is important, while the third pillar allows targeted additional saving.
The survey was conducted in October 2026 with the research agency "Norstat" and covered 1,002 Latvian residents aged 18 to 65.
