DVAG Survey: Two-Thirds of Germans Overwhelmed by Private Pension Information
A survey commissioned by Deutsche Vermögensberatung (DVAG) reveals that two-thirds of Germans feel overwhelmed or anxious about information concerning private pension plans.
Berlin – Two-thirds of Germans feel overwhelmed or anxious about the information surrounding private pension provision, according to a representative survey conducted by Kantar on behalf of Deutsche Vermögensberatung (DVAG). Only a quarter of respondents indicated they could cope well with the volume of information.
Pension provision is a persistent topic in Germany, influenced by developments in the statutory pension system, discussions around Riester reforms, and low interest rates. Consumers are regularly exposed to new statements and information regarding pensions, leading to a sense of being inundated.
The survey indicated that while concern about a pension gap is prevalent across all income levels, the private circle serves as a significant source of information, particularly for younger demographics. However, personal consultation was identified as the top priority for obtaining information across all age groups.
DVAG provides financial advisory services aimed at helping clients navigate the complexities of financial planning and make informed decisions about their retirement. The company emphasizes that its financial coaches offer competent advice and support in financial matters.