Numerous factors have an impact on old-age savings. Among them, we may distinguish the key ones, such as gender, income, education and age. Those major factors include pensions guaranteed by the state, i.e. the ‘generosity’ of pension systems. The correlation between old-age savings and state-guaranteed pensions varies depending on the country. The paper points out the fact that, when seeking to equalise their lifetime income, professionally active persons tend to adjust the value of additional voluntary old-age savings to the level of state-guaranteed social security benefits. Thus, there is a correlation between lifetime income and old-age savings. The research presented in the article is part of two representative surveys: 1) ‘Household Finance and Consumption Survey’ (2nd wave, carried out in 18 Eurozone countries as well as in Poland and Hungary) and 2) ‘Social Diagnosis’ (conducted in Poland). The paper uses a logistic regression model to analyse the determinants of old-age savings.