State pension: Almost every second relies on the state for retirement provision!

State pension: Almost every second relies on the state for retirement provision!

Sonneberg, Deutschland - Again and again the topic of old -age provision in Germany is hotly debated. According to a current survey by the Federal Association of German Banks (BDB), in which 1,316 people aged 16 and over, almost half of the respondents (46%) rely on state support in old age. This trust is particularly pronounced among the over 60 year olds, where it is even 63%. But the younger generations are also not entirely averse to: 44% of 16- to 29-year-olds see the state as the most important component of their pension. The question of the role of private and company pension options is becoming more and more common.

The state as a backing

A significant majority of 64% of those surveyed believe that the state is primarily responsible for financial security in old age. This could be an indication that many people are not satisfied with the German pension system, which they are "very complicated and opaque". The young generation in particular shows a high need for information: 62% of the respondents between the ages of 16 and 29 do not feel sufficiently informed about their financial options and preventive options. This could also be related to the fact that 81% of young people find the pension system unclear.

News from old -age provision

The idea of ​​a “stock pension” that is intended to use capital market systems to alleviate increasing pension contributions is at least attractive. Nevertheless, 42% of the opinions are rather undecided, which refers to knowledge gaps. The question of how such a form of investment would work exactly remains in the room for the time being.

It is also known that retirement provision in Germany has different facets. The statutory, company and private pensions offer different approaches to financial security in old age. On average, the working time in Germany is about 39.6 years, followed by around 20.5 years of pension. Over 65-year-olds receive more than half of their income from the statutory pension insurance, where the monthly standard pension is currently 1,769 euros.

private provision not to be neglected

Although many rely on the government offers, over half of the Germans save privately for age despite all of this. The company pension scheme has a total stock of around 16.6 million contracts, with direct insurance accounting for the largest share - around 8.8 million contracts. The Riester pension, a state-funded form of private pensions, is also relevant with over 15 million contracts concluded, but there is a decline here.

In addition, the real estate assets of private households in Germany are estimated at over 11 billion euros, which shows that many people rely on different strategies to secure their age financially. However, the challenges that the pension system brings with it demands for a clear understanding and a well -founded decision for your own retirement provision.

Read more about the current developments in the area of ​​old -age provision in the linked articles of check24.de . For comprehensive information about retirement provision, also visit Statista.com .