Many European countries, including the Republic of Croatia, are characterized by a negative demographic picture which is caused by the population ageing due to increase in the quality of life and the extension of life expectancy, as well as lower fertility rates. Additional problems in the Republic of Croatia are represented by the below-average activity rate of the working-age population, the lower average effective age of labor market exit, the above-average unemployment rate (especially among young people) and the emigration of the younger population. As a result of the above-mentioned problems, net pensions are low, and the elderly population is exposed to a high risk of poverty. The solution is found in voluntary pension savings products that provide the individual with the opportunity to freely manage their own financial resources. The aim of such products is to increase income in old age, but also to emphasize the growing responsibility of the individual for the future personal financial situation. Some of the saving and investment products, that enable the accumulation of additional savings for retirement in the Republic of Croatia, are voluntary pension funds, life insurance products, investment funds, term and a vista deposits and housing savings. Products, important for the retired generation, with an emphasized payment function in the Republic of Croatia, are primarily the payment products of pension insurance companies and, to a lesser extent, annuity insurance products. Considering the unsustainability of pensions from the public system and the extremely high responsibility of the individual for his own future, it is necessary to consider how to improve existing savings and payout products of voluntary pension savings and how to increase demand on the Croatian market. Also, the potential and limitations of products that are not yet represented on the Croatian market, such as the pan-European Pension Product, long-term care insurance and reverse mortgage, should also be considered.