Federal citizens' perspectives on pensions and pension reform
In a recent survey conducted by the Civey Institute, commissioned by the life insurer Canada Life, 61% of 2,500 respondents in Germany expressed that the pension issue is important for their vote. This sentiment is particularly strong among older voters, with 67% of those aged 50 to 64 considering the pension issue a major factor in their vote.
However, trust in a future-proof pension reform is waning, according to the survey. A staggering 76% of respondents do not believe that the reform will happen, and among workers, 85% are skeptical about its implementation. This skepticism is even more pronounced among the younger generation, with 83% of those aged 18 to 29 having little or no trust in a future-proof pension reform.
The majority of respondents believe the state is responsible for pensions, with 45% advocating for the state to build additional securities alongside the statutory pension. However, there is a significant difference in opinion about this matter depending on occupational status. Among workers, 83% favor state involvement, while among the 18 to 29 age group, 51% favor personal responsibility for building additional securities. Among students, 86% believe they should be responsible for their own financial cushion in old age.
The German government coalition parties (SPD, Greens, and FDP) have committed to a future-proof pension reform, which includes the introduction of a uniform pension value across Germany starting in 2025, stabilization of the pension level funded fully by tax revenue, and additional measures like the Mütterrente III and options for early retirement and active pensions. However, the specific pension reform promises of other parties for the next federal election are not detailed in the presented search results.
Interestingly, the national average for believing each citizen should be responsible for building additional securities is 38%, but among the 18 to 29 age group, this number rises to 51%. Conversely, 38% of respondents believe each citizen should shoulder this responsibility. Notably, 16% of respondents are undecided about who should build these additional securities.
Among voters aged 30 and above, the pension issue is considered very important. This importance is reflected in the survey, with 84% of workers stating that the pension issue is important, which is 23 percentage points above the national average.
In conclusion, while the pension issue is a significant concern for many Germans, trust in a future-proof pension reform is low. The survey results indicate a divided opinion about who should be responsible for building additional securities, with the majority favoring state involvement, but a significant portion of the younger generation advocating for personal responsibility. The German government has made commitments to a pension reform, but the specific promises of other parties remain unclear.
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