Pohjola Pankki Oyj : OP-Pohjola Group Survey: People should also personally prepare financially for years after retirement

 Pohjola Pankki Oyj : OP-Pohjola Group Survey: People should also personally
                prepare financially for years after retirement

PRESS RELEASE

OP-Pohjola Group Survey:

People should also personally prepare financially for years after retirement

According to OP-Pohjola Group's Financial Literacy Survey, two-thirds of the
respondents say that everyone should also personally prepare financially for
their post-retirement years.Almost 80% of young respondents share this view.

Nearly half of the respondents are concerned about their financial standing
during retirement. Two respondents out of three think that people should begin
to save for retirement under a voluntary pension plan at the age of 40 years.
Up to 46% of the young respondents think that people should begin to save for
retirement under such a pension plan at the age of 20-29 years, i.e. in
practice from the very beginning of their career.

- The results suggest that people's attitudes towards how they can earn their
livelihood during retirement have undergone a change. The majority of the
respondents, especially the young ones, seem to accept the fact that people
should also personally prepare financially for maintaining their standard of
living during post-retirement years, states Economist Maarit Lindström.

It would seem that we will still have a long way to go to reach the goal of
making people stay longer in their jobs and retiring later. The respondents
think that able-bodied people should have the right to retire at the age of
around 62 years.

Weaker financial literacy

In the opinion of the respondents, news about financial and economic issues is
increasingly vaguer and understanding such issues has become more difficult.
This weakening trend has persisted since 2011 when the survey was conducted
for the first time. Making use of financial and economic information has
become more difficult and people follow economic and business news to a lesser
extent.

- As the world and global economy are becoming more and more complicated, even
those who consider to be knowledgeable about economic and financial issues
feel that they have to struggle more than ever before to perceive the effects
of the general economic development on their personal finances and financial
standing. People tend to easily give up following economic and business news
and issues if it becomes awkward.

In particular, the way how actively young people follow economic and business
news has changed. There was a sharp dichotomy in this year's results: a larger
number of young people say that they follow economic and business news only on
a monthly basis as against on a weekly basis before, although every five
youngsters say that they now follow economic and business news on a daily
basis.

Every other person thinks it pays to use a single financial services provider

Banks are still considered the most reliable providers of advice on personal
financial planning. People count on the professional skills of banks' experts
and are pleased to attend to their banking affairs by discussing with them.
The media were considered the second most important provider of advice.

- Every other Finn thinks that using a single provider of banking and
insurance services makes for a more convenient use of services and enhances
the feeling of managing personal finances. When banking and insurance services
form a comprehensive package, it will be easier for people to become convinced
of a solution that is suitable for their personal needs.

The OP-Pohjola Nyt (OP-Pohjola Now) magazine available in the afternoon will
deal more with the Financial Literacy Survey. The broadcast can be found at
op.fi/uutishuone.

Conducted by TNS Gallup and commissioned by OP-Pohjola Group, the Financial
Literacy Survey had 1,017 respondents across Finland, forming a representative
sample of active population at the age of 18-69 years. This was the third time
when the survey was conducted.

For more information, please contact: Maarit Lindström, Vice President and
Economist, OP-Pohjola Group Central Cooperative, tel. +358 (0)40 531 8262

OP-Pohjola Group is Finland's leading financial services group providing a
unique range of banking, investment and insurance services. The Group has the
mission of promoting the sustainable prosperity, well-being and security of
its owner-members, customers and operating regions through its local presence.
Its objective is to offer the best and most versatile package of loyal
customer benefits on the market. OP-Pohjola Group consists of some 200 member
cooperative banks and the Group's central institution, OP-Pohjola Group
Central Cooperative, with its subsidiaries and closely-related companies, the
largest of which is the listed company Pohjola Bank plc.With a staff of more
than 13,000 OP-Pohjola Group posted consolidated earnings of 601 million euros
before tax in 2012 and had total assets of 99.8 billion euros on 31 December
2012. The group has over four million customers.

Appendix to the Financial Literacy Survey 2013 press release

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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
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