Just under 19% of Germans are building benefits in an occupational pension scheme and nearly 30% have a “Riester-Rente”. But only half will find this will be sufficient to uphold their current living standards, suggests research.
A study on German pension provision, commissioned by Union Investment and conducted by the “Research Institute on the Intergenerational Contract” at the Albert-Ludwig university in the German city of Freiburg, found around 57% of Germans with (future) incomes from the first and second pillar – the latter including both occupational pension schemes as well as the state-subsidised “Riester-Rente” – will find these payments will be enough suffice for their retirement.