Foto: BB.LV / сениор
Latvians' expectations regarding future pensions vary significantly. According to a survey conducted for CBL Asset Management, 45% of residents hope to receive more than half of their current income in retirement. Meanwhile, 22% expect to retain at least 70% of their earnings. As reported by the LETA agency citing Citadele Bank, a quarter of respondents are less optimistic: they anticipate that after they stop working, their income will decrease by at least half. ### How much retirees earn today The difference between expectations and the current situation is shown by official data. According to the Central Statistical Bureau, in the second quarter of 2026, the average salary after taxes in Latvia was €1,401. The average old-age pension for the first nine months of the year, according to the Ministry of Finance, was approximately €660. Salary and Pension in Latvia Average figures for 2026 Salary after taxes €1,401 Old-age pension €660 47% is the average pension as a percentage of the average salary after taxes Sources: CSB — average net salary for Q2 2026; Ministry of Finance — average old-age pension paid from January to September 2026. The comparison of average figures is not a forecast of individual pensions. Thus, the average pension today is about 47% of the average salary net. This is lower than the level many survey participants expect. However, such a comparison does not mean that every working resident will receive exactly 47% of their earnings after retiring. The amount of payments depends on individual pension capital and other factors. ### Who expects the highest pension The highest expectations were found among residents aged 30 to 39. One in four individuals in this group expects to retain at least 70% of their current income in retirement. Among young people aged 18 to 29, 19% of respondents think so, while among residents aged 50 to 59, the figure is 20%. At the same time, a significant portion of the population has no idea what payments they can expect in old age. Almost a third of respondents (30%) found it difficult to estimate the size of their future pension in relation to their current income. The uncertainty is particularly high among young people: in the age group of 18–29, 39% of survey participants have no such understanding. ### Why a state pension may not be enough The Chairman of the Board of CBL Asset Management, Karlis Purgailis, explains that future pensions depend not only on earnings and paid social contributions but also on the returns of accumulated pension capital. According to him, those wishing to maintain their standard of living need to assess the possibilities of the pension system and their own additional savings in advance. > "Relying solely on the fact that a pension will automatically ensure a familiar standard of living would be risky. It is important for people not only to know how much they would like to receive in retirement but also to monitor how their pension capital is being formed," emphasizes Purgailis. He also points out that starting to save early allows for spreading the necessary amount over a longer period and potentially reducing the size of regular contributions. The survey results show that for a significant portion of residents, the issue of future pension income remains open: some expect to retain a large part of their earnings, others anticipate a significant decrease in income, while almost a third do not yet know what to expect. The CBL Asset Management survey, conducted in collaboration with the research agency Norstat, took place in October 2026 and involved 1,002 residents of Latvia aged 18 to 65.
