3 ms·

It seems like savings include pension ([1], but it is a bit unclear to me) , and that is a kind of forced saving (as in many places in Europe you can't choose t

• victorbjorklund 9mo ago
  Sounds like they don’t count that. They seem to only count disposable income and payments the company does to your retirement aren’t really disposable
• seszett 9mo ago
  It's not clear to me either, but as I understand it it doesn't include pensions because social contributions are not part of "disposable income". I think that "the net adjustment for change in pension entitlements" is there to take into account the expected reduced future income from pension entitlements dwindling over time (edit: in effect, making pensions count as negative savings) somehow, but it's unclear. I looked for another perspective but the French national bank doesn't mention pensions in its explanations[0]. [0] https://www.banque-france.fr/system/files/2024-08/epargne-des-menages.pdf https://www.banque-france.fr/system/files/2024-08/epargne-de...