Economist: working pensioners one of strongest middle-class groups

Nerijus Mačiulis, chief economist with Swedbank, says that although many older Lithuanians would not qualify as middle-class in terms of income, their savings are more in line with the principle of responsible management of personal finances than those of the majority.

According to the economist, less than 40% of working people in Lithuania have savings of EUR 2,000 or more.
“An important criterion to consider when assessing the middle class is not only their income but also their wealth. In terms of income, there are practically no senior citizens in Lithuania who can be classified as middle class, as only a very small proportion of them have an income of more than EUR 1,000 per month,” Mačiulis told reporters on Tuesday.