GDV (German Insurance Association)

Future provision for old age

A survey of policies regarding provision for old age

Project description

Study design

Ever since the governing grand coalition’s new pension package, the subject of state pension policy has been back in the public eye. Against this background, the Handelsblatt Research Institute (HRI) and the Prognos AG conducted a joint study for the GDV (German Insurance Association) to examine the financial feasibility of the statutory pension scheme and a right proportion of unfunded and funded components, i.e. state, private and company pensions. The study highlights the perspectives of funded pension provision against the background of capital market developments like the current low interest rate phase. At the same time, the long-term financial feasibility of the statutory pension scheme was put under the microscope. The analysis covers the time period up to 2050.

The study reached the conclusion that in view of increasing contributions to the statutory pension scheme and pension levels being set to fall for most of the population, it will not be possible to maintain a pension scheme which guarantees living standards, unless company and private pension schemes are expanded.

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Project management

Prof. Dr. Bert Rürup

+49 211 887 1100
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